2025金融监管机构内部变革的五项关键原则

Global economic conditions are shifting rapidly — driven by new businessmodels, technological advancements, and changing workforce demands —placing central banks and financial sector authorities at a critical juncture.They are increasingly pressured to address this new context whilebeingmoreeffective and efficient, adaptable to new mandates and resilient tonewdemands. But delivering new and expanded mandates with flat budgets & headcountin today’s world requires proactive, internal change — and a significantmindset shift. The internal transformation needed is significant and requiresnew capabilities, behaviors, and structures, which is inherently difficult inlightof these organizations unique operational and cultural norms (that alsobuildsmany of their strengths). They need to be better in anticipating needs,planning, prioritizing, budgeting, allocating resources, leading the workforce,or digitizing the operating model — not alongside, but to better deliver ontheir mandates. Achieving this balance will need to become a newnormal. A survey conducted byOliver Wyman with key global stakeholders from theseinstitutions shows they are willing to change but recognize their bespokechallenges in internal transformation. It suggests significant work is neededby most in 5 key areas: Equip leadership with diverse skills in influence,communication, and accountability Focus on P eople and H R transformationwith tailored workforce planning Professionalize internal operations toeffectively support front-line functions Mature organizational steeringcapabilities for better decision-making Invest in technology, particularly A I , as a keyenabler for operations and innovation FACING THE FUTURE: CENTRAL BANKS AREAT A CRITICAL JUNCTURE Central Banks and financial sector authorities1have been recognized as pillars of globalmonetary and financial stability for centuries. They typically emerged to solve specificeconomic challenges — such as financing wars or stabilizing currencies — and operatedindependently from government. Over time, their mandates, sizes, and budgets haveexpanded significantly, often in reaction to significant economic events or bankingcrises, with policy and regulation the primary drivers of their organizational andoperationaltransformations. Today, these institutions have reached a critical juncture. The external environment is shiftingrapidly, challenging the conventional ways of delivering on the traditional mandates of centralbanking or supervision. New business models, significant technological advancements, andthe fragmentation of both old and new players are reshaping the financial sector, all whileadapting to a new inflation paradigm, geopolitical circumstances, and changing workforcedemands. Additionally, macroeconomic challenges — such as rising living costs, inflation,and global supply chain shifts — are pressuring governments to demand more from theirauthorities, including political influence, budget discipline, support for competitiveness,and attention to social concerns such as inequality, inclusion, and climate. These trends willinevitably alter how mandates are delivered, making financial stability shocks, monetarypolicy transmission, and supervisory outcomes increasinglyunpredictable. The solution, however, won’t come from further expanding budgets or increasing headcount.Instead, central banks and other financial sector authorities must change the way theyoperate internally, and do so proactively. They need to anticipate market trends, adapt torelevant changes, diversify their talent, and prioritise, plan, and budget for the future. Dueto budget and headcount restraints, there needs to be a clear view on acceptable trade-offsand risk tolerance to guide leadership in its decision-making. Rising public expectations willalso necessitate improved communication about these decisions and robust frameworks forassessing theirsuccess. Achieving this internal transformation will require new capabilities, behaviors, and structureswithin these authorities — and a significant mindset shift. Historically, transformative,proactive change has been difficult in these organizations in the absence of external pressuresuch as a financial crisis. It comes at odds with many of the established institutional andcultural norms that make them unique (and build many of their strengths). Their historyhas required them to put an emphasis on stability, risk aversion, and continuity throughouteconomic cycles, often with an opaque economic model (due to their independence and thesensitive nature of their operations). They also often have policy objectives that are difficult tomeasure, such as absence of financial crises. This will need to be balanced against the needsfor adaptability mentionedabove. Moreover, some historical organizational features may need to be rethought. Financialauthorities’ organizational structures were typically shaped around mandates, formalgovernance, and legal requirements — while mean