Financial Institutions

Unique opportunities and risks facing financial institutions

Demand for your organization’s guidance and solutions is high, as volatility and technology reshape client needs and operating models. You need a partner that can help you navigate today’s risks while improving operations, strengthening your workforce strategy and finding new opportunities for growth.

Financial institutions face several important risks and challenges, including:

• Cyber: Cyber criminals target financial institutions
• Economic: High interest rates, slowing and uneven global economic growth and a retreat from globalization
• ESG/Reputational risk: Increasingly politicized environmental, social and governance (ESG) principles result in anti-ESG backlash
• Geopolitical: Conflict, unrest, piracy and war disrupting business
• Regulatory changes: An increasingly complex and frequently changing regulatory environment
• Talent challenges: Talent loss to new or unexpected industries
• Technology: New and disruptive technology including AI, quantum computing, blockchain and digital wallets

We serve the following financial services sectors:

• Asset management
• Banking
• Broker-dealer
• Fintech and digital assets
• Insurance companies

The right risk and people partner is critical. We bring decades of experience managing interconnected risks and human capital solutions for financial institutions like yours.

Risk transfer and insurance solutions for financial institutions

Our financial institutions risk and insurance specialists offer a broad range of innovative solutions. Our holistic approach combines deep industry experience with analytics and insight to help you identify and address risk.

We can help financial institutions like banks and capital markets, investment management and fintech mitigate their insurable risks. We understand traditional, emerging and regulatory risks and provide a broad range of solutions to address them.

Using our industry-leading analytics, our financial institutions insurance specialists provide clear insight into your risk profile to reduce liability and strengthen resiliency and sustainability.

We provide services and solutions that help financial institutions manage and transfer risk, including:

• Affinity programs
• Alternative risk transfer solutions
• Business interruption and contingent business interruption
• Captives
• Collateral review/negotiations
• Credit, political risk and terrorism
• Cyber liability
• Directors and officers
• Environmental liability
• Errors and omissions liability
• Executive risks
• Intellectual property risk management
• International network
• Loss control
• Merger and acquisition consultancy, reps and warranty
• Product liability
• Product recall
• Property and casualty
• Surety
• Trade credit
• Workers compensation

Human capital services and solutions for financial institutions

In today’s financial industry landscape, attracting, retaining and engaging talent is essential. Your employees are critical to success in a fiercely competitive market. We can help you develop human resources (HR) programs to attract and retain the critical talent needed to succeed.

Financial services firms face a highly competitive and dynamic marketplace. Technology disruptions, regulation and intense competition for scarce talent heighten the urgency to hire and retain experienced talent with the relationships, expertise and agility to overcome complex challenges.

In challenging times, attracting, hiring and developing experienced financial services talent is critical to your success. Our consultants bring a deep market understanding of corporate banking, investment banking and asset management to help you find, recruit, engage and retain the critical talent to thrive in rapidly changing environments.

We review your human resources and employee benefits to strengthen your talent and help you develop a culture that attracts tech-minded staff who can lead your financial institution into sustainability.

Our dedicated benefits team can provide solutions that help you hire people who can innovate and inspire. Services and programs we offer include:

1. Optimized total rewards: Attracting and retaining dedicated, qualified talent is critical to success in financial services. We provide the data, insights and strategies you need to compete effectively for scarce financial talent, improve employee resilience and keep your best people. Our services include:
   • Compensation strategy and design
   • Executive compensation reviews
   • Healthcare and wellbeing consulting
   • Retirement and financial resilience benefit strategy
   • Total rewards optimization surveys and analytics

2. Enhanced employee experience: Though pay and benefits are crucial, high-performing financial institutions recognize that a differentiated employee experience is equally important. We partner with you to design a high-performance employee experience that supports engagement, career progression, flexibility and resilience and ongoing industry disruption.

   Our services include:

   • Employee engagement surveys and software to help organizations understand evolving employee needs and sentiment
   • Employee communication strategy and implementation
   • Pay equity and transparency analysis and design
   • An employee experience platform – Embark – that provides timely information at critical moments
3. Efficient benefits operations: Operational efficiency is critical to a financial institution’s ability to compete in a challenging climate. We can help you leverage resources and improve outcomes with services such as:
   • Benefits administration and outsourcing solutions for healthcare, retirement and other benefits
   • Benefits harmonization
   • LifeSight pooled employer 401(k) plan
   • Merger and acquisition support and solutions
4. Financial services workforce management: As consolidation, digitization, automation, AI and advanced analytics transform how work gets done, we provide a holistic view of all the skills your organization has today and will need tomorrow. Together, we’ll design a workforce strategy that improves performance, supports quality service and strengthens financial resilience. Our services include:
   • Career analysis and design, job architecture and job leveling
   • Talent intelligence reports and labor market insights
   • Workforce Analytics Dashboard and workforce management strategy and solutions
   • Work transformation and a skills-first approach to work architecture

Gaining competitive advantage in financial services

Amid financial uncertainty, we help you manage risk, cultivate talent and explore new work models that'll set your financial institution apart from the competition.

Effective use of capital

Mounting cost pressures and industry consolidation are forcing healthcare organizations to adopt new capital management practices. We can help with investment advisory services and M&A solutions for any healthcare organization.

Services include:

• Endowment and foundation investment strategy
• Funds and strategies
• Mergers and acquisitions
• Outsourced chief investment officer (OCIO)
• Retirement