Economic Uncertainty, Interest Rates, and Risk

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Explore the shifting landscape of economic uncertainty and its implications for interest rates, risk management, and housing affordability. How is technology impacting these uncertainties and assisting our navigation of the environment?

Aug 01, 2024

Carl Groth, Chief Risk Officer, Legal & General Retirement America

Persistent inflation and current economic conditions suggest that interest rates may remain high for an extended period, contrary to earlier expectations of multiple rate cuts this year.
Younger generations face significant challenges with homeownership due to high rental costs and housing affordability issues, leading to a shift in attitudes towards property ownership.
The role of Chief Risk Officers is increasingly focused on scenario planning and building resilience to navigate global crises and economic uncertainties.
Technological advancements, such as AI and big data, offer significant operational efficiencies but also introduce new risks that need careful management and mitigation.

Carl Groth Bio

Carl Groth is Chief Risk Officer for Legal & General Retirement America. In that role, he oversees and maintains risk governance, analytics, compliance, and control frameworks across the US Retirement business. Additionally, he provides appropriate independent advice, oversight, challenge and supports the broader Legal & General global risk management team. Prior to joining Legal & General Retirement America, Carl served in senior risk management roles at Principal Financial Group. He joined as Chief Risk Officer for Principal International and later served as head of Financial Risk Management where he was responsible for overseeing the Group’s investment risk management, ALM, derivatives, stress testing, economic capital modeling and US ORSA. Previous to Principal, Carl served as KPMG’s Insurance Industry Risk Management Advisory Practice leader. Carl has an MBA in Finance and Investments with honors from The George Washington University and a BA in Economics from the University of Washington.

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