Expectations of Risk Management Outpacing Capabilities – It’s Time For Action

Expectations of Risk Management Outpacing Capabilities

Global survey of C-level executives, exploring how effectively companies are integrating a holistic Governance Risk and Compliance framework.

Global survey exploring the integration of a Governance Risk and Compliance framework.

Risk management is at the top of the global executive agenda as companies face an array of threats that grow more complex by the day. The risks are vast and ever-present, and those companies that fail to manage them well imperil their future.

These challenges are growing faster than most organizations’ abilities to respond: today’s complex environment requires an even stronger capability to master and optimize risk management. This is the main finding of a large-scale study of risk conducted by KPMG International, based on a global survey of 1,092 C-level respondents that was deployed by the Economist Intelligence Unit in December 2012. The aim was to find out about executives’ perceptions of the risks facing their companies and their sense of how, and how well, their companies and industries are tackling them.

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C-level executive responses to key survey questions

C-level executive responses to key survey questions

A detailed look at how C-level executives responded to some of the key survey questions.

Top risks by geography

Top risks by geography

A view of the issues posing the greatest risk by geographical region and industry.

Top Risk Management Imperatives for the C-Level

Assessing risk exposures

Executives struggle with assessing risks across the enterprise.

 
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Articulate risk appetite

Risk management is important but few companies articulate their risk appetite.

 
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Greatest threats

Regulatory pressure is seen as the issue posing the greatest threat to respondents.

 
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Three lines of defense

Business units assess risk better than the risk, compliance and internal audit function...

 
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Barriers to convergence

Lack of human resources impedes the convergence of risk and control functions.

 
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Weak incentive structures

Risk-based decision-making is impeded when there is a weak link between incentives and ...

 
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Return on investment

Organizations need to improve how they measure the benefits of risk management.

 
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Risk-resilient culture

Creating a risk-resilient culture: A call to action.

 
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