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Perspectives

Know Risk

Embrace uncertainty, reveal opportunity

Knowledge is power. In today’s ever-evolving risk landscape, you can’t eliminate threats. But a risk intelligent approach can give you a better understanding, helping you reimagine risk to reveal new strategic opportunities and create value for your company.

All together now: Third-party governance and risk management

With an increasingly high interest and leadership focus on third-party risk management, organizations are striving for greater efficiencies in their approach to third-party risk management. Our extended enterprise risk management (EERM) survey report reveals that organizations are investing in talent, cutting-edge technologies, and robust operating models. It also discusses six findings:

  1. Economic uncertainty continues to drive a focus on cost reduction and talent investment in EERM.
  2. Piecemeal investment has impaired EERM maturity development, neglected certain risks, and adversely affected core basic tasks.
  3. Boards and senior executives are championing an inside-out approach to EERM, which includes better engagement, coordination, and smarter use of data.
  4. Federated structures are the most dominant operating model for EERM, underpinned by centers of excellence and shared services.
  5. Organizations are streamlining and standardizing EERM technology across diverse operating units.
  6. Organizations have poor oversight of the risks posed by their third parties’ subcontractors and affiliates.
All together now: Third-party governance and risk management

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Know Risk rewind: A look back at previous issues of Know Risk?

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