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Global risk management survey, 10th edition
Heightened uncertainty signals new challenges ahead
In today’s financial services environment risk management is becoming more important than ever; financial institutions confront a variety of trends that have introduced greater uncertainty than ever before into the future direction of the business and regulatory environment:
- Economic conditions may continue to be weak, with historically low interest rates
- The UK referendum to leave the EU, coupled with US President Donald Trump’s pledge to renegotiate trade agreements, raise the possibility that trade volumes may decline
- The continual increase in regulatory requirements may abate or even be reversed in 2017
- Strategic risk is increasing as entrepreneurial fintech players are competing with traditional firms in many sectors
- Cyber risk continues to grow as a threat, and is attracting greater regulatory attention
The rapidly changing environment suggests that risk management programs may need to increase their ability to anticipate and respond flexibly to new situations and developments. Deloitte’s Global risk management survey, 10th edition assesses the industry’s risk management practices and the challenges it faces in this turbulent period. It includes responses from 77 financial services institutions around the world that conduct business in a range of financial sections and with aggregate assets of US$13.6 trillion.