Risk Angles series, staying ahead of what's next

Perspectives

Risk Angles series

Staying ahead of what's next

Risk Angles is Deloitte’s global series of short, powerful interviews, designed to inform on pressing risk topics. Explore a wide range of governance, risk, and compliance issues – and stay ahead of what’s next.

Reputation risk

Reputation risk is a top strategic concern for organisations because it’s a meta risk – connected to and amplified by other types of risk. It’s often outside an organisation’s direct control, and can cause irreparable damage in many ways, both actual and perceived.

This edition of Risk Angles discusses the threat of reputation risk, how companies are addressing it, and how organisations can analyse the risk exposure and vulnerability of key stakeholder groups to better understand the potential impact of a reputation event.

Reputation risk

Risk modeling

Risk modeling use has expanded in recent years as companies look for ways to address strategic, operational, compliance, geopolitical, and other types of risk. Technology advancements have made risk modeling and simulation more practical, just as the need to cope with the expanding universe of risk is becoming more pressing.

This edition of Risk Angles discusses the challenge, impact, and strategy of risk modeling and takes a closer look at the role of model simulation in enhancing decision making. 

Risk modeling

Compliance

The compliance and risk management functions have grown much closer in recent years, to the point where conversations about compliance inevitably involve discussions of risk. Intensifying enforcement, the rising cost of compliance breaches, and the underlying risk of reputation damage are all forces Chief Compliance Officers must reckon with. 

This edition of Risk Angles discusses the evolution of the compliance function, emerging compliance risks and takes a closer look at the evolving role of the CCO.

Compliance

Social business

Social business isn't limited to just marketing or PR. Today, it's a top driver of decisions that influence business outcomes in an organisation, exposing it to drastically different, potentially disruptive ways to engage with, learn from, and collaborate with customers, suppliers, employees, and even the public.

This edition of Risk Angles explores social business risk and takes a closer look at compliance-related risk.

Social business

Exercising risk oversight

Boards of directors are working hard to define and fulfil their risk governance and risk oversight roles and responsibilities.  With competing responsibilities, boards need to direct their risk oversight efforts toward the most productive areas and assist management in ways that most benefit shareholders and other stakeholders.

This edition of Risk Angles features an interview with Stephen Alogna, Director at Deloitte in the United States, regarding ways in which boards of directors can sharpen their focus on risk. Also, we take a closer look at global practices regarding board-level risk committees.

Exercising risk oversight

Managing the risks of financial crime

Financial crime is a well-known and widespread problem that impacts brand value and reputation, goodwill, and revenue of many organisations. In addition to the risk of losses from financial crime itself, companies also face spiralling costs in related areas

In this issue of Risk Angles, Peter Dent answers five questions about managing the risks of financial crime, and Anthony DeSantis discusses the use of Big Data to proactively address fraud risk.

Managing the risks of financial crime

Aligning risk and value

To preserve value and navigate the expanding risk universe more effectively, organisations are exploring ways to change the way risk is viewed and managed. They’re looking to embed risk management as a discipline across the enterprise – and in turn, meet future expectations in a prudent, profitable manner.

In this issue of Risk Angles, Peter Matruglio,  National Leader, Risk Transformation, and Partner, Deloitte Australia, answers five questions about aligning risk and value, and Scott Baret, Global Leader, Enterprise Risk Advisory for Financial Services, takes a closer look at how the financial services industry is addressing risk. 

 

Aligning risk and value

The impact of tax risk

Along with the uncertainty about how the tax system will respond to continued globalisation of business, there are tremendous risks associated with corporate taxation. These risks range from major financial penalties and sanctions to reputational and customer-related risks.

In this issue of Risk Angles, Alan Macpherson, Global Governance, Risk and Compliance Tax Leader, answers five questions about the growing concern over tax risk, and Chris Tragheim, Europe, Middle East and Africa (EMEA) Leader for the Foreign Account Tax Compliance Act (FATCA), examines one of the drivers of that concern, FATCA.

The impact of tax risk

Strategic risk

Strategic risk is not new; however, in a world where risks are hastened along by business trends and technological innovations, strategic risk management has taken on new urgency.

In this issue of Risk Angles, Henry Ristuccia, global leader of the Governance, Risk and Compliance practice, answers five questions about strategic risk, and offers fresh insights on how companies can use strategic risk analysis to both protect and create business value.

Strategic risk

The evolution of cyber security

While cyber security used to be considered an issue primarily for the IT team, these days it is an agenda item for the entire C-Suite. What’s changed? It’s not just the frequency of media reports on cyber security breaches — if anything, these are merely symptomatic of a larger shift underway.

In this issue of Risk Angles  Mike Maddison, Deloitte UK partner and leader of cyber security consulting for Europe, the Middle East and Africa, tackles five questions on cyber security frequently voiced by clients. Then, Sid Maharaj, Technology Risk Partner, Deloitte Australia, and Tommy Viljoen, National Lead Partner Security, Deloitte Australia, take a closer look at how big data can be used for intelligent security.

 

The evolution of cyber security

Risk-adjusted forecasting and planning

Companies today face a dizzying array of risks, from regulatory pressures and competitor actions to talent shortages and cost volatility — and everything in between. These risks can have a significant impact on financial performance. Yet most financial forecasts and plans still revolve around single-point estimates and metrics that do not objectively consider a company’s unique combination of key risks.

In this issue of Risk Angles, Nick Pope, director, Deloitte UK, discusses an approach to forecasting and planning that analyses and tests multiple risk variables to help executives present forward-looking numbers with greater confidence — and manage key business risks more effectively. Then, Charles Alsdorf, director, Deloitte Financial Advisory Services in the United States shares his perspective on how CFOs can benefit by taking an investor’s view when preparing forecasts and plans.

Risk-adjusted forecasting and planning

Supply chain risk

As executives find themselves being asked more and more questions about the risks facing their supply chains, many have decided it’s time to re-examine their assumptions and approaches. 

In this issue of Risk Angles, Kelly Marchese, principal, Deloitte Consulting, answers five of the questions she hears most frequently regarding supply chain risk. Then, James Cascone, leader of the Centre for Global Food Value Chain, takes a closer look at supply chain risks associated with our food supply.

Supply chain risk

Retaliation risk

The interconnected issue of whistle-blowers and retaliation lawsuits are experiencing a resurgence among businesses today, pushed along by new regulatory frameworks. Too often, companies don’t realise their exposure to retaliation risks until it’s too late. 

In this issue of Risk Angles, Robert Biskup, director, Deloitte Forensic, offers some thoughts on questions executives ask him most frequently about this issue. Then, Brian Huchro, partner, Deloitte Forensic, takes a closer look at the role of culture in managing retaliation risks. 

Retaliation risk

Risk assessment

Assessment is the technique companies use to determine the significance of individual risks in light of business goals. 

In this issue of Risk Angles, Dr. Patchin Curtis, director at Deloitte, offers her thoughts on some questions the executive team should consider asking about the risk assessment process. Then, Dr. Mark Beasley, Deloitte Professor of Enterprise Risk Management at North Carolina State University, takes a closer look at risk prioritisation, probabilities, and appetite.

Risk assessment

Business risks relation to water and other critical resources

Water is something most of us take for granted. However, as demand for water continues to rise, more and more companies are learning that water is a finite resource and that water scarcity may have a big impact on the bottom line. In some cases it can even threaten a company’s ability to operate, as well as its reputation.

In this issue of Risk Angles, William Sarni, director at Deloitte, offers his thoughts on some questions commonly asked about water-related business risk. Then, Christopher Park, principal, Deloitte Consulting and leader in the area of Enterprise Sustainability, adds his perspective on the broader issue of risks related to sustainability and resource scarcity.

Business risks related to water and other critical resources

Managing risk in the midst of volatility

In just about any business, managing risk has been a little like keeping order on a storm-tossed ship. The environment is always changing, creating new challenges with every passing day. But over the past few years, it has frequently felt more like being caught in hurricane-force winds, when it’s hard enough to know which direction is up. Get used to it. Volatility is widely expected to dominate the business environment for the foreseeable future.

In this issue of Risk Angles, we ask Mark Carey, partner at Deloitte, some pressing questions about this important issue. Then, Henry Ristuccia, partner at Deloitte and Global Leader of the Governance, Risk and Compliance practice offers his perspective on utilising technology to help stay ahead of risk in the coming years.

Managing risk in the midst of volatility

Applying analytics to risk management

It can be challenging to separate the hype from the reality when it comes to analytics and risk management. In this issue of Risk Angles, Vivek Katyal,  principal, Risk Information Services (RIS) practice leader and Audit and Enterprise Risk Services (AERS) leader for Deloitte Analytics, answers five questions risk leaders frequently ask today about how best to apply an analytics approach to the job of risk management.

Then Mark Carey, partner and leader of the U.S. Governance and Risk Strategies services for commercial and public sector industries within Audit and Enterprise Risk Services (AERS), lends his perspective on the use of risk modelling.

Applying analytics to risk management

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