Risk management strategies are increasing in importance on board agendas around the world, according to a new global survey. What’s sparking the rising interest at the top? Politics.
Completed at the most recent Global Risk Management Conference series, the survey of 80 top companies shows the reasons given for the increase vary across markets and geography. In the UK, for example, it’s largely customer driven, while in the U.S. it’s driven by financial and regulatory compliance concerns. But political issues are on everyone’s mind.
- Over half of those surveyed in each region said risk management strategies were increasing in significance across the business
- 44% of UK organizations cited Brexit’s political implications as the biggest potential unknowns to their business (last year it was supply chain and cyber security)
- 33% of U.S. companies saw domestic politics and supply chain as the biggest risks (last year, concerns were on geo-political construction risks)
- 29% of Australian responders also said political unrest was the top threat, and
- Across all regions, the use of enabling technology was seen as the most important element when looking to improve risk processes.
DRI recognizes the importance of strong risk management strategies. Developed and taught by experienced instructors, DRI’s Risk Management Continuity course combines theory with real-world practices to give you in-depth instruction and tools you can put to use in creating a robust Risk Management program. The course is designed to give students the tools they need to pass the Risk Management Examination and continue on the path toward becoming a DRI Certified Risk Management Professional (CRMP) or Associate Risk Management Professional (ARMP). Click here for more information, or call 866-542-3744.