Strategic Focus: Linking Risk Complexity To Digital Requirements

30 Oct, 2023

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Executive Summary

This report delves into the evolving landscape of risk management, emphasizing the increasing significance of non-financial risks and the need for a broader risk perspective covering both financial and non-financial risk areas. It identifies existing practices that are no longer acceptable if a firm wants to retain its competitive advantage and underscores the significance of digitization in enhancing risk management efficiency. This report aims to support executives in understanding the stages of risk management digitization and adopting a structured approach as they mature through the digitization spectrum and navigate the challenging risk environment.
Unlocking the future: the dynamic evolution of enterprise risk management
Key drivers of risk complexity

Navigating the thrills and challenges of enterprise risk management’s shifting tides
Accelerating the risk management journey through digitization
Figure 1. Evolution of the risk management function
Figure 2. Risk materiality in firms 2022-2023
Figure 3. Risk digital maturity tiers

About the Authors

Elizabeth Babalola

Elizabeth Babalola

Senior Analyst

Elizabeth is a Senior Analyst at Verdantix, where she delivers in-depth research to support corporate executives in strengthening operational resilience, optimizing insurance ...

View Profile
Daniel Garcia

Daniel Garcia

Senior Manager

Daniel is a risk and compliance subject-matter expert (SME), with over 16 years of global experience, having worked for major financial institutions and consulting firms in La...

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