Risk Agenda 2025: Global IRM views
A series of international workshops supporting the Risk Agenda 2025 initiative have already taken place. More are planned over the coming year. Each workshop considered current and future challenges for risk management from four perspectives:
- Board and strategy
- Processes and frameworks
- Organisational culture
- Specialist areas
- Key Board concerns - reputation, risk appetite, scenario planning and emerging risks.
- Risk process priorities - risk connectivity, developing benchmarks and designing integrated risk assurance models.
- Concerns for risk professionals - risk ownership and accountability, risk culture, risk education and training.
- Specialist areas of risk - cyber risk, risk based capital allocations and risk communications.
- Key Board concerns - improved scenario planning; the need to respond rapidly to risks as they materialise.
- Risk process priorities - further moves towards Enterprise Risk Management ; greater de-centralisation of risk functions.
- Concerns for risk professionals: greater awareness of cyber risk; involvement in corporate ethics.
- Specialist areas of risk - climate change; enhanced risk management in the public sector