Inside the Strategy Room

245. The six habits of successful risk leaders

Apr 4, 2025

Ida Kristensen, a senior partner at McKinsey, Ritesh Jain, a partner advising financial institutions, and Naba Banerjee, Chief Product and Experience Officer at CLEAR, discuss the evolving role of Chief Risk Officers. They outline six essential habits that set successful risk leaders apart, from building trust and transparency to leveraging generative AI for proactive problem-solving. The trio shares insights on fostering partnerships with stakeholders and navigating the complexities of risk management, emphasizing resilience in the face of modern challenges.

44:36

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Episode guests

Naba Banerjee

Ritesh Jain

Ida Kristensen

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Episode notes

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Quick takeaways

Successful risk leaders cultivate a risk-aware culture and clear vision for navigating complexities in today's shifting risk environment.

Investing in diverse talent and promoting cross-functional collaboration are essential habits for fostering innovative risk management solutions.

Deep dives

The Paradox of the Risk Leader Role

The role of a senior risk leader is both intriguing and demanding, as outlined by interviews with various Chief Risk Officers (CROs). The increasing complexities of risk management, largely due to evolving market conditions and an expanding array of risk types, highlight the necessity for strong leadership. These leaders must balance strategic objectives with risk optimization, moving beyond mere loss prevention to embrace risk as a component of decision-making. With this shift, successful risk leaders emphasize the importance of establishing a clear vision and fostering a risk-aware culture within their organizations to navigate challenges effectively.

Intro

2min

The Essentials of Risk Leadership

7min

Building Trust and Leadership at Airbnb

10min

Transforming Risk Leadership with Generative AI

10min

Building Partnerships with External Stakeholders

3min

Building Strong Partnerships with Regulators and Law Enforcement

2min

Navigating Complexity in Risk Leadership

11min

To succeed today, chief risk officers (CRO) and other risk leaders must exert more influence and build organizational resilience in an increasingly complex risk environment. Today’s guests share the key practices that set top risk leaders apart, as CROs shift from traditional risk managers to influential figures driving resilience and organizational success.

Ida Kristensen is the global co-leader of our Risk and Resilience Practice and senior partner in our New York office. She advises clients across sectors on a variety of topics spanning enterprise risk management, resilience, organization and talent, cybersecurity, regulatory compliance, and operational improvement. Ritesh Jain is a partner based in our New York office and a leader in our Risk and Resilience Practice. He advises financial institutions on their risk and resilience priorities with a focus on enterprise risk management, operational risk, and transforming the frontline risk and control environment. We are also joined by Naba Banerjee, currently Chief Product and Experience Officer at CLEAR and formerly a senior advisor to McKinsey and the Global Head of Trust and Safety at Airbnb, where she led a team responsible for industry-defining solutions that reduced fraud and safety incidents by over 50%.

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