Global Risk Management Survey
Institutions are required to rethink their traditional risk management approaches
Risk management today is confronting a series of substantial impending risks that will require financial services institutions to rethink traditional approaches. While the tsunami of regulatory changes in recent years has crested, regulatory examination and enforcement intensity continues and the importance of nonfinancial risks has significantly risen.
Global risk management survey, 11th edition
Gathering the feedback of 94 financial services institutions from around the globe and covering a range of financial sectors, this report identifies the challenges faced by the industry, and assesses current risk management practices.
The survey posed key questions on the current and developing risk management challenges these institutions face and the steps they’re taking to address them. The survey’s key findings include:
- Continued growing importance of cybersecurity risk
- Increasing focus on nonfinancial risks
- The potential of digital risk management
- Addressing the challenges in the three lines of defense risk governance model
- Increasing reliance on stress testing
- Stronger board oversight
- Widespread adoption of the chief risk officer (CRO) position
- Continued increase in the adoption of enterprise risk management (ERM)
Key global risk management survey findings
For a quick summary of key findings from the report, view these condensed spotlight reports.