LONDON, May 30, 2019 /PRNewswire/ -- Amid rising complexity in the risk landscape, organisations need to embed innovative risk capabilities and competencies at all levels, says a new report from S-RM titled The Future of Risk: Building Resilience in the Digital Age.
The risk landscape continues to grow more challenging and complex. The digitisation of organisations, and rising interconnectivity of people, organisations and technology, is transforming sectors and countries as well as the threats they face. Established threats, such as political instability, environmental disasters and regulatory action, now sit alongside newer, rising threats such as cyber breaches, climate change and the malicious use of cognitive technologies. Crisis response is further compounded by the ever-increasing immediacy of online news media and social media.
The impact of recent crises underscores the need for organisations to adjust their approach to risk. "CEOs of resilient organisations are adapting by treating risk as a strategic priority. They are communicating a clear risk profile, tolerance and culture for their organisation to act on," says Heyrick Bond Gunning, CEO of S-RM and a co-author of the report.
At the same time, CEOs of resilient organisations are working with their teams to embed capabilities and processes that reduce biases, ensure real-world testing of controls and mitigants and ensure that everyone from top management through to the front line can spot and mitigate emerging risks. "With little time to respond, resilient organisations need to create, test and execute leading-edge crisis preparedness and response strategies," says Jamie Smith, Head of Cyber Security at S-RM and a co-author of the report. Together, these measures are helping CEOs and top management to build resilient and crisis-ready organisations for the digital age.
A copy of the report can be downloaded here.
A video interview by Business Reporter with S-RM CEO Heyrick Bond Gunning can be viewed online here.
S-RM is one of the world's leading risk and intelligence consultancies. We help our clients manage evolving regulatory, reputational, and operational risks. We partner with clients to build their resilience, unlock commercial opportunities, and tackle critical challenges, from cyber-attacks, violent crime, and political instability to financial crime, bribery and disputes.
Our global network of over 300 experts and advisors serve clients in all regions and across all major sectors. At S-RM, we work as one firm across six offices worldwide to serve our clients. Speaking over 30 languages, we combine global expertise and local knowledge to deliver critical insights and advice. We support many of the most prominent organisations and funds globally as well as charities, family offices, and start-up companies. Find out more at www.s-rminform.com.
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SOURCE Business Reporter