Risk Topics

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The cyber security leader’s role needs to be reframed as accountability for cyber risk shifts
The role of the cyber security leader needs to evolve says Gartner, as accountability for cyber risk moves outside IT and an increasingly distributed ecosystem leads to a loss of direct decision-making control.
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• World

New IPCC report presents latest scientific consensus on climate change risks and impacts
The IPCC Working Group II has published ‘Climate Change 2022: Impacts, Adaptation and Vulnerability’ which provides a detailed summary of the current expectations for how climate change related risks and impacts are likely to develop.
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• World

Top takeaways from the Evolving Resilience Strategies Report
Evolving Resilience Strategies is BC Management’s latest research report. In this article Cheyene Marling highlights the key findings from a global survey for the report, which was carried out in Q4 2021 to understand the current trends in resilience management.
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• World

Ten good practices for implementing third-party risk management
Jelle Groenendaal and Bram Ketting provide advice for implementing and improving third-party risk management, presenting a six step implementation approach and a checklist of ten good practices.
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• World

Gartner Emerging Risks Monitor Report shows talent is top emerging risk area followed by supply chain disruptions
Executives are most concerned about postpandemic talent risks, according to Gartner, Inc.’s latest Emerging Risks Monitor Report. Talent risks topped other concerns, including supply chain disruptions and inflationary pressures, according to a survey of 254 senior executives across industry and geography, conducted in 4Q21.
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• World

Boards taking steps to improve oversight of cyber risk but gaps remain
RANE (Risk Assistance Network + Exchange) and the Nasdaq Center for Board Excellence have released results of a survey of US publicly listed companies and nonprofits that show that boards and executive team members give themselves high marks for cyber security awareness but that additional training on cyber risks would be beneficial.
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• US

WHO and ILO highlight remote working risks that organizations need to manage
The World Health Organization and the International Labour Organization have called for measures to be put in place to protect workers’ health while remote working.
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• World

Climate risk emerges as the top concern for risk managers
Climate risk, cyber concerns, and financial volatility are the top emerging risks according to an annual survey of risk managers. Providing insights on emerging risks over time, the 15th Annual Emerging Risk Survey is sponsored by the Joint Risk Management Section (JRMS) of the Canadian Institute of Actuaries (CIA), the Casualty Actuarial Society (CAS) and the Society of Actuaries (SOA).
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• World

Cyber security stress and burnout: a growing risk for organizations to address in 2022
The heightened risk of cyber attacks on businesses is being compounded by significant recruitment and retention issues within cyber security teams, making them more vulnerable to potential attacks, according to new survey based research from ThreatConnect Inc. This found that 41 percent of UK-based IT security managers are considering leaving their current job in the next six months.
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• UK

When preemptive risk mitigation is insufficient: the effectiveness of continuity and resilience techniques during COVID-19
In the latest issue of the Production and Operations Management journal, researchers from the University of Tennessee and Virginia Commonwealth University highlight how the pandemic encouraged supply chain managers to implement business continuity programs.
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• World

Report highlights the expanding role of audit committees
The ‘Audit Committee Practices Report’, a collaborative report developed by Deloitte’s Center for Board Effectiveness and the Center for Audit Quality, shows how audit committees are increasingly taking responsibility for enterprise risk management and for cyber security.
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• US / World

Building resilience is becoming a competitive advantage for companies: Allianz Risk Barometer
Cyber perils are the biggest concern for companies globally in 2022, according to the latest Allianz Risk Barometer. The threat of ransomware attacks, data breaches, or major IT outages worries companies even more than business and supply chain disruption, natural disasters or the COVID-19 pandemic, all of which have heavily affected firms in the past year.
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• World

New report highlights the top five supply chain risks for 2022
Everstream Analytics has released its 2022 Risk Report, which outlines the top five supply chain risks that global companies should prepare for in the next 12 months.
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• World

PRA sets out 2022 operational risk and resilience expectations
In a letter sent to Chief Executive Officers of PRA-regulated international banks active in the UK, the PRA set out key aspects of its regulatory expectations when it comes to operational risk and resilience.
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• UK

US and Canadian Banks form consortium to help develop climate risk management strategies and standards
The Risk Management Association (RMA) has announced that 19 leading banks have formed the RMA Climate Risk Consortium, which will develop standards for banks to integrate climate risk management throughout their operations.
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• North America

Academic study provides insights into effective enterprise risk management
A new survey-based study by researchers from the Copenhagen Business School has examined how organizations carry out enterprise risk management; the findings highlight the importance of broad organizational engagement in ERM and the need for agility.
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• Europe / World

World Economic Forum publishes annual Global Risks Report
Climate risks dominate global concerns as the world enters the third year of the pandemic. According to the World Economic Forum’s Global Risks Report 2022, while the top long-term risks relate to climate, the top shorter-term global concerns include societal divides, livelihood crises, and mental health deterioration.
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• World

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