Inaccurate risk assessment can lead to poor decision making, high costs and scrutiny from regulators. With so much data to analyse, you need a systemic approach to effectively identify and assess all of the risk exposures—known and unknown—that your business faces.
In a 2010 study, more than two-thirds of the respondents reported that they had at least one significant risk event in the previous year. Of those respondents, only 20 percent had both anticipated and reasonably estimated the impact of that event.
Organisations must identify every risk—from threats to the company’s reputation to data breeches and risk of non-compliance with regulations—and weigh them against business opportunities. By analysing big data, you can strike a balance between risk and opportunity.
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The cascading impact of shocks to the global financial system makes it critical to track risk holistically in real time, rather than manage it in silos. An integrated approach to understanding risk—with greater transparency—can increase confidence among management, stockholders and customers.
Businesses focused on integrating fragmented risk management processes must also synthesise the various kinds of risk—from fraud risk to reputational risk to legal risk, and so on—into one holistic understanding embedded into the fabric of the organisation to drive business outcomes.
The risk of reputational and financial harm from failures to meet the plethora of ever-changing regulations burdens enterprise compliance programs. Understand precisely how new risks from cloud computing, social media, enterprise mobility and big data impact regulatory compliance, and take steps to avoid non-compliance.
Guard against poor decision making by balancing risk and opportunity
Understand the potential impact of financial risks, enabling more risk-aware strategic decision making.
Operational risk and compliance
Employ an integrated and comprehensive approach to managing operational risk and meeting regulatory requirements.
Enterprise risk management
Manage business risks to strike the right balance between risk taking and commercial gain.