Leadership has been saved
Extended enterprise risk management survey 2019
Boards and senior leaders are championing an inside-out approach to third party risk management, which includes better engagement, coordination and smarter use of data.
Our survey reveals that boards and executive leadership continue to retain ultimate responsibility for extended enterprise risk management (EERM) in the majority of organisations.
Who has ultimate responsibility for third party risk management?
- 24%: Chief Risk Officer
- 19%: other board members
- 17%: CEO
Better engagement and coordination across internal EERM stakeholders is a top priority for boards and senior leaders. More than a third of organisations admit to having a low, insignificant or unknown level of engagement and coordination across organisational units, geographies, risk domains and subject matter experts. And they know this needs to improve.
The survey also uncovers that senior leaders want smarter use of data. Boards are moving away from using periodically generated data to more succinct and real-time actionable intelligence, generated online. This is being provided by new risk intelligence tools which provide alerts, trend analysis, and scenario analysis and are powered by emerging technologies, such as the cloud, robotics process automation and artificial intelligence.
Download the full report for further insight, including industry and geography highlights.