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Breaking down the global risk management survey
Looming economic dangers and nonfinancial risks
Financial institutions have strengthened their capabilities to address market, credit, and liquidity risks, but are now facing a new set of demands as it confronts a number of looming nonfinancial risks. Deloitte’s 11th edition of the Global risk management survey, the latest installment in Deloitte’s ongoing assessment of the state of risk management in the global financial services industry, offers insights on reimagining risk management to adapt to the new environment and protect against significant financial losses and reputational damage.
Global risk management survey, 11th edition
The 2018 survey interviewed chief risk officers or their equivalents at 94 financial institutions around the world, representing a total of US$29.1 trillion in aggregate assets.
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.