A strong, commercially minded, proactive risk management function has never been more important. New forms of risk are emerging, and regulation is tightening. The impacts of macroeconomic events—including COVID-19 —are being felt in the form of an impending recession, and lack of consumer and business confidence will most likely undermine a rapid recovery.
Having placed many senior risk management professionals globally—and from regular conversations with market leaders in the field—we have a three-part thesis on the way in which the risk function needs to develop at scaled organizations.