Insights
The US economy got off to a rough start in Q1 from the increases in the benchmark federal funds rate by the Federal Reserve to curb persistent inflation. The approval of another quarter-point interest rate in the May FOMC meeting marked the central bank’s tenth consecutive rate hike in 14 months.
The fastest rate-raising cycle in 40 years, unhedged interest rate and market risks, and fear of contagion contributed to the recent collapses
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2022 was a year that brought countless challenges to the forefront of the global economy, including rising inflation, supply shocks, and overall macroeconomic stagnation. The volatility in the market has thus enabled analysts to draw comparisons to both the stagflation of the early 1970s and to a lesser degree, the calamitous mortgage crisis of 2007 and 2008, pointing to parallels in the relative increase in price levels and accompanying supply shocks that negatively impacted the global economy
Read MoreBanking and financial service leaders face insurmountable business challenges that often require care, attention, nuanced thought, and insightful decision making. Data analytics can assist to tackle any business decision that requires prudent action. Whether trying to answer questions, detect trends, allocate capital, or extract insights, without proper data analytics, any decision maker is flying blind.
Read MoreThe financial services industry could be doing more to manage their exposure to the significant risks posed by a climate change phenomenon that is only worsening. Neglecting the micro and macro intricacies of climate change and failing to incorporate its associated risk into a risk agenda and/or framework can result in grave consequences that could otherwise have been avoided or mitigated industry will, at least initially, be disproportionally impacted by climate change owing to their relative size and portfolio compositions, failure to act accordingly and plan for the future can and will lead to adverse consequences.
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Key Performance Indicators (KPIs) are measurable data points used to track performance against a specific set of goals. KPIs should be aligned with core business objectives and, if used correctly, can act as a valuable tool when demonstrating how effectively these objectives are being met. Developing KPIs can certainly be a challenging task but a firm understanding of the common pitfalls involved in their development can make this task easier.
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As we last reported in our - Building Operational Resilience across the Financial Services Industry in 2021 and Beyond, global regulatory bodies; The Bank of England, the Basel Committee on Banking Supervision (BCBS), and the Federal Reserve Board (FRB) have all issued significant guidance related to Operational Resiliency (OR) over the last several years. The COVID-19 pandemic has only accelerated the focus of regulators who have redefined their expectations for financial institutions’ resiliency frameworks and readiness.
Read MoreMonticello Consulting Group is a trusted management consulting firm servicing clients in the global financial services industry. Our mission is simple—to provide exceptional management consulting services by focusing on three core principles for our clients: value creation, superior execution, and uncompromising integrity.
