Based in Frankfurt, Dominik works with major financial and banking institutions, European central banks and supervisors as well as other public institutions in optimizing their organizations, governance, financial resource management and risk management. In 2011, he spent a year with the World Economic Forum as a secondee in Geneva and in New York. “It was a unique and transformative experience, giving me the opportunity to work alongside practitioners, supervisors, and academics in developing ideas,” he recalls. There, Dominik led a project on benefits and risks of financial innovations in the aftermath of the financial crisis, resulting in the report: “Rethinking Financial Innovation: Reducing negative outcomes, while retaining the benefits.”
In 2014, he assisted in the creation of the Single Supervisory Mechanism (SSM), the first pillar of the European banking union aimed at restoring confidence in Europe’s banks, which had been shattered in the wake of the financial crisis. He participated in the European Central Bank’s Comprehensive Assessment 2014, a financial health check of 130 banks in the euro area, covering approximately 82 percent of total bank assets. “It was unique to be there when the SSM was launched and Europe wrote history in its approach to integrate banking in the Eurozone.”
Since 2016, Dominik has focused mainly on challenges arising as digitization and other macro trends reshape the financial services Industry. His role involves helping clients transform their organizations by setting strategic priorities and developing stakeholder engagement strategies.
More recently, Dominik has become involved in climate and sustainability work through his leadership role with the Oliver Wyman Forum. It’s a topic that has become increasingly important in his client interactions, he notes. “In larger transformations the questions around carbon neutrality, sustainability, etc. become more and more prevailing and need to be considered in the target design, which is great to see.”
That said, sustainability is more than a business opportunity, Dominik explains. “It is a fundamental issue that we need to resolve - not only for ourselves, but for the generations to come.”
I see sustainability as similar to diversity and inclusion and other topics: we can spend a lot of time and money to make the business case but ultimately, it is the right thing to do to preserve our world. I know that the business case will help to incentivize decision-makers and as such, this is good to get right. But, at the end of the day, it remains the right thing to do.
In addition to his work in the Financial Services practice, Dominik is the executive sponsor of GLOW, Oliver Wyman’s LGBT+ network, and is heavily invested in driving the firm’s inclusion agenda as a member of its Inclusion Council. When he’s not working, Dominik enjoys art, travel, and music. “I play the cello – not professionally, although I did entertain that ambition when I was younger.”