Capabilities
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 through comprehensive valuation and analysis.
Trusted by the Top Partners
Trusted by the Top Partners
Trusted by the Top Partners
Trusted by the Top Partners
Explanation
A Holistic Approach
to Brokerage and Risk Transfer
Customized Solutions for Risk Management
Insurance is a crucial risk transfer tool for organizations, but standard insurance products often fall short of meeting specific coverage needs, especially in today’s rapidly changing risk landscape. Having a reliable risk advisor to help navigate uncertainty and develop modern, data-driven strategies that protect your balance sheet and support growth is essential.
At PrimeWell Assure, we leverage our extensive global market relationships, insurance broking expertise, and analytical tools to effectively address client challenges. By combining insights with expertise, we offer tailored risk transfer and mitigation guidance to help organizations identify and quantify their risk exposure, enabling more informed decision-making.
By adopting a comprehensive approach that considers each organization’s unique risk profile, we design insurance solutions aimed at delivering superior outcomes for businesses across various industries.
The Risk
Discover Our
Risk Transfer Solutions
We help clients make informed insurance purchasing decisions by optimizing the balance between risk transfer and retention financing through comprehensive valuation and analysis.
Property Risk
Protection
Protect your physical assets from damage and theft with our customized insurance solutions, giving you peace of mind every step of the way.
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Liability Coverage
Solutions
Defend your organization from legal risks and surprise expenses with comprehensive coverage that keeps you confidently protected.
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Disruption Impact
Reduction
Reduce financial losses during unforeseen disruptions with specialized insurance programs that support seamless business continuity.
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Cybersecurity
Risk Shield
Cybersecurity
Risk Shield
Cybersecurity
Risk Shield
Navigate the complexities of compliance with tailored regulatory insurance solutions. We help you mitigate risks associated with regulatory.
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Compliance Risk Management
Compliance Risk
Management
Compliance with regulations is essential for business continuity. We help clients navigate regulatory risks, ensuring adherence to industry standards
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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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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
Learn More
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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