Strategic Focus: The New Wave Of Enterprise Risk Consulting
05 Jun, 2024
Access this research
Access all Corporate Risk Leaders content with a strategic subscription or buy this single report
Need help or have a question about this report? Contact us for assistance
Executive Summary
The World Economic Forum’s 2024 Global Risks Report rates climate-related, technological and geopolitical risks among the top five global risks over the next two years. These types of new and emerging risks present a wealth of challenges to firms’ existing risk management plans. These risks can present with little to no warning, drastically shortening the timeframe in which organizations must respond. At the same time, firms’ responses to crises are increasingly publicized, leaving little room for error. As organizations attempt to adopt a more proactive approach to risk management, they are increasingly leaning on consultancies to revitalize their risk management frameworks.
The shifting global risk landscape is ushering in a fresh era for risk consulting
New and emerging risks create a broad spectrum of challenges for chief risk officers
New risks and growing business intricacies render existing risk management methods insufficient
Today’s risk challenges necessitate a paradigm shift in risk consulting
New and emerging risks create a broad spectrum of challenges for chief risk officers
New risks and growing business intricacies render existing risk management methods insufficient
Today’s risk challenges necessitate a paradigm shift in risk consulting
Figure 1. New and emerging risks challenge firms’ global operations
Figure 2. The new risk landscape exposes weaknesses in firms’ existing risk strategies
Figure 3. Necessary features of risk consulting today
Figure 2. The new risk landscape exposes weaknesses in firms’ existing risk strategies
Figure 3. Necessary features of risk consulting today
Adidas, Tesla, Sourcing Journal, Huawei, Seagate, Reuters, McKinsey & Company, Raymond James, US National Labor Relations Board, US Bureau of Industry and Security, Samsung, Volkswagen, World Economic Forum (WEF), US Securities and Exchange Commission (SEC), Yale University Chief Executive Leadership Institute (CELI), World Meteorological Organization
About the Authors
Katelyn Johnson
Senior Manager
Katelyn is a Senior Manager at Verdantix, specializing in enterprise risk management and external risk and resilience. She helps executives navigate today’s evolving ris…
View Profile
Bill Pennington
VP Research
Bill is VP Research at Verdantix, where he leads analysis on the evolving and interconnected landscapes of EHS, quality, AI and enterprise risk management. His research helps …
View Profile