Across industries, organizations are facing more threats and operating in an increasingly complex risk landscape. Risk functions must strategically anticipate and proactively respond to signals, threats, and opportunities for competitive advantage.

The regulators are creating the most pressure and interest around risk management today. This report compiles data from 390 U.S. risk executives on how enterprise risk functions prioritize to meet the challenges, demands, and opportunities across five risk drivers.  

The five risk transformation drivers:

  • De-risking: Efforts to reduce risk exposure and hedge against expected market conditions.
  • Growth or strategic change: Organic or inorganic growth, change in products, services, delivery channels, and/or other large-scale strategic initiatives.
  • Compliance risk: New or emerging regulatory requirements, non-compliance with existing requirements, or need to enhance the relationship with oversight authorities.
  • Effectiveness and efficiency: Increase the quality, consistency, extensibility, and confidence in risk management requirements and outputs.
  • Cost takeout: Reduce the overall costs associated with the governance, maintenance, oversight, and execution of risk requirements and practices.