Transforming Challenges Into Strengths
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What We Do
Mastering Today's Challenges in Risk Human Capital
Addressing modern challenges in managing and optimizing human capital for sustainable growth and resilience.
Broking and
Risk Transfer
Broking and Risk Transfer
We help clients make informed insurance purchasing decisions by optimizing the balance between risk transfer and retention financing.
Risk Management & Mitigation
Broking and Risk Transfer
We help clients identify and reduce business risks, minimizing potential disruptions with tailored crisis strategies.
Comprehensive Insurance Solutions
Broking and Risk Transfer
Custom insurance programs protect your assets, covering everything from audits to efficient claims management. with our solution.
Data & Analytics for Strategic Insights
Broking and Risk Transfer
Utilizing advanced analytics, we offer insights into risk patterns and human capital trends, empowering clients to make informed, data-driven decisions.
Capability Overview
Human Capital
Improving People Decisions
People are both an organization’s greatest asset and biggest expense, as well as a significant risk factor. Getting your people strategy right can make or break success. Our Human Capital solutions and expert advisors support clients in addressing critical workforce challenges, fostering a healthier, more engaged, and productive team.
Capability Overview
Risk Capital
Improving Risk Decisions
Businesses and communities encounter an ever-changing array of interconnected risks. Our Risk Capital advisors leverage deep expertise, strong relationships, and advanced analytics to unlock capital across markets, regions, and financial instruments, helping organizations thrive.
Featured Insights
Keep Exploring
Explore the trade, technology, weather, and workforce trends shaping today’s most significant business challenges and opportunities.
Article
Oct 25, 2024
Managing Human Capital to Drive Innovation in Life Sciences
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
Managing Human Capital to Drive Innovation in Life Sciences
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
Managing Human Capital to Drive Innovation in Life Sciences
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
Managing Human Capital to Drive Innovation in Life Sciences
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
4 Ways to Foster a Thriving Workforce Amid Rising Health Costs
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
4 Ways to Foster a Thriving Workforce Amid Rising Health Costs
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
4 Ways to Foster a Thriving Workforce Amid Rising Health Costs
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
4 Ways to Foster a Thriving Workforce Amid Rising Health Costs
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
The Next Evolution of Wellbeing is About Performance
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
The Next Evolution of Wellbeing is About Performance
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
The Next Evolution of Wellbeing is About Performance
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
The Next Evolution of Wellbeing is About Performance
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
How Financial Institutions can Prepare for Pay Transparency Legislation
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
How Financial Institutions can Prepare for Pay Transparency Legislation
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
How Financial Institutions can Prepare for Pay Transparency Legislation
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
How Financial Institutions can Prepare for Pay Transparency Legislation
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
Managing Human Capital to Drive Innovation in Life Sciences
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
4 Ways to Foster a Thriving Workforce Amid Rising Health Costs
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Article
Oct 25, 2024
The Next Evolution of Wellbeing is About Performance
As digitalization and people-related risks impact the global banking industry, volatility is on the rise. Growth in competitive digital banking, changes to employee work patterns, economic pressures and continued supply chain issues all threaten the bottom line of financial institutions (FIs).
These factors are leading to increased risks such as fraud, cyber attacks (from malicious actors externally and internally), mis-selling, potential litigation and reputational damage. Such risks embody the closely intertwined relationship between people and processes.
Evolving Risk Management Frameworks
Over the last 15 years, operational risk management frameworks have largely been driven by the rules laid down by the Basel Committee. These required globally active banks to use a combination of internal loss collection, external data and scenario analysis to measure and manage operational risk. While these practices have value, there is a growing realization of the interconnected nature of risk.
FI leaders need oversight that enables them to better understand the link between people and operational risks. Reviewing risk management practices will provide opportunities to identify and incorporate these emerging human capital risks. In today’s world, frameworks must be connected so that firms can proactively identify risk at the source rather than reporting post-event.
Improving the Linkage Between Human Capital and Operational Risk
Human capital is an increasingly important component of operational risk. However, with increases in data quality and technology, global FIs are now able to pinpoint human capital and behaviors that are at the root of many new or uninsurable risks.
There is also evidence of global banking regulators requiring firms to focus on the human capital aspects of their business. Recent examples include the Digital Operational Resilience Act, which creates a framework to boost the IT security of the financial sector, as well as public speeches by regulators. Frank Elderson, European Central Bank Executive Board Member and Vice-Chair of the Supervisory Board, notes, “A bank can have all the risk controls in place, avail itself of the most advanced tools to manage risks and rely on data of the highest quality, but still become mired in a scandal it has brought upon itself, which badly affects its reputation owing to weaknesses in its internal culture.”1
An assessment of workforce and human capital data should be considered an important element of any operational risk review and process improvement exercise.
“We are seeing a shift in our clients’ needs and abilities. Given that people-related operational risks are more likely to profoundly impact an organization’s very existence, it’s important to consider financial and human capital risks holistically. Although this has been historically harder to measure, we now have the data and tools to help predict these events.”
Mark Miles, Partner, Human Capital Solutions, Aon
Our Story
PrimeWell Assureis
In the Business of
Better Decisions
Industry Expertise Counts
Although we all encounter similar global challenges and opportunities in this volatile era, each industry has its own unique needs and demands specialized expertise. Discover our industry research and insights.
60K
Colleagues around the world.
120
Countries and sovereignties where we operate.
Trusted by the Top Partners
Our Story
PrimeWell Assureis
In the Business of
Better Decisions
Industry Expertise Counts
Although we all encounter similar global challenges and opportunities in this volatile era, each industry has its own unique needs and demands specialized expertise. Discover our industry research and insights.
60K
Colleagues around the world.
120
Countries and sovereignties where we operate.
Trusted by the Top Partners
Our Story
PrimeWell Assureis
In the Business of
Better Decisions
Industry Expertise Counts
Although we all encounter similar global challenges and opportunities in this volatile era, each industry has its own unique needs and demands specialized expertise. Discover our industry research and insights.
60K
Colleagues around the world.
120
Countries and sovereignties where we operate.
Trusted by the Top Partners
Our Story
PrimeWell Assureis
In the Business of
Better Decisions
Industry Expertise Counts
Although we all encounter similar global challenges and opportunities in this volatile era, each industry has its own unique needs and demands specialized expertise. Discover our industry research and insights.
60K
Colleagues around the world.
120
Countries and sovereignties where we operate.
Trusted by the Top Partners
Our Story
PrimeWell Assureis
In the Business of
Better Decisions
Industry Expertise Counts
Although we all encounter similar global challenges and opportunities in this volatile era, each industry has its own unique needs and demands specialized expertise. Discover our industry research and insights.
60K
Colleagues around the world.
120
Countries and sovereignties where we operate.
Trusted by the Top Partners
Let’s Connect
Talk to Our Team
Get in touch with our team today to discover how we can assist your business in making improved risk and people decisions.
PrimeWell
Assure
While we all face many of the same global challenges and opportunities in the age of great volatility, each industry
PrimeWell
Assure
While we all face many of the same global challenges and opportunities in the age of great volatility, each industry
PrimeWell
Assure
While we all face many of the same global challenges and opportunities in the age of great volatility, each industry
PrimeWell
Assure
While we all face many of the same global challenges and opportunities in the age of great volatility, each industry
PrimeWell
Assure
While we all face many of the same global challenges and opportunities in the age of great volatility, each industry