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Reimagining Enterprise Risk

Learn how today’s finance leaders can use data and clear vision to navigate risk.

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Reimagining Enterprise Risk

  1. 1. Reimagining Enterprise Risk How Today’s Finance Leaders Can Use Data and Clear Vision to Navigate Risk THE 3 EMERGING RISK MANAGEMENT HAZARDS As Dun & Bradstreet’s Global Enterprise Risk survey revealed, the navigational challenges on the path to successful risk management are significant. Finance leaders must survey the perils carefully and prepare with the right strategy and tools for their organization’s ascent. Hazard THE FOG-VEILED SUMMIT The Risk and Strategy Disconnect We do not use data to inform our risk strategy. We use data in a limited way. It’s collected in silos but not integrated. We collect data in silos but make an effort to share it upward and outward. Our data is fully integrated but not leveraged to the fullest extent. Our data is fully integrated and leveraged across the company. Hazard TREACHEROUS TERRAIN The Use and Misuse of Data Most enterprises are using data, but gaps exist in linking existing data to process, strategy and behavior. Misuse and misunderstanding of data can prove fatal in a technical and challenging climb. 50% of finance leaders report difficulty sharing, linking and using data to drive their risk strategies. Over 50% of data used in risk management is siloed. Hazard THE PERILOUS FRONTIER The Missing Relationship Links Relationships—among data points, entities, people and teams—are the biggest risk in risk management. Finance leaders need to use data holistically and in an integrated manner to strengthen linkages between strategy and risk. 60% of finance leaders feel they don’t have a good understanding of their business risks. Only 20% agree that data is used to identify the linkage between risks. BECOMING A MOUNTAINEER: What’s Your Risk Profile? Every finance guru needs a data-infused compass and an analytics-drawn map to move their team in the right direction, up the right mountain and with the right equipment to summit. DISORIENTED DRIFTER Uncertain of data needs and quality Unsure how to manage risk with analytics WANDERING WAYFARER Data may be misleading General sense of analytics and strategic direction UNCERTAIN URBANITE Data quality and flows are clean Unsure how to use analytics to move risk strategy forward PREPARED PIONEER Clean data flowing to the right places Calibrated analytics Navigates enterprise risk like a true Data Sherpa REACHING THE SUMMIT IN THE DATA AVALANCHE Armed with the right data, the right strategy and the right team, finance leaders have the potential to elevate their organizations to the summit. Risk reimagined is an opportunity for data-inspired leadership and growth. Contact us to learn more about data-inspired risk management. www.dnb.com Enterprise risk is no longer a hill to climb; it’s a mountain. Will you be ready to take your team to the summit? DATA-CHALLENGED DATA-INSPIRED 65% of finance leaders say there’s a missing link between risk and strategy. 20%0% 40% 60% 80% 100% Over 85% of finance leaders are not confident in the quality of the data they use to make risk decisions. 20%0% 40% 60% 80% 100% Wary Accepting Confident How do you feel about the linkages among business risks? How much do you trust the quality of the data being used to evaluate risk? How does data inform your risk strategy? 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Data is used to identify the linkage between risks. Risk management is integrated across different functions. Risk management and performance management are linked. We have a good understanding of our greatest business risks. Risk mitigation is prioritized by likelihood of occurrence. Risk mitigation is prioritized by the possible impact. Disagree Neutral Agree Source: The DNA of the CFO 2016 Study: Part 1, Ernst & Young Risk management has never been more complex. Today’s financial leaders face a risk landscape that can skyrocket corporate growth or slam brand reputations, in a matter of seconds. Static Local Manageable Predictable Dynamic Global Real-time Future oriented TRADITIONAL RISK MODERN RISK 58% of finance leaders say they need to build their understanding of digital, smart technologies and sophisticated data analytics. DIGITAL 57% of group CFOs believe that the delivery of data and advanced analytics will be a critical capability for tomorrow’s finance function. DATA 57% of finance leaders believe that risk management will be a critical capability in the future. RISK AND UNCERTAINTY 71% of finance leaders say they will increasingly be responsible for the decision-making in support of their organization’s purpose. STAKEHOLDER SCRUTINY AND REGULATION FOUR FORCES DISRUPTING THE CFO ROLE 1 2 3 Dun & Bradstreet can help... Advance the relationships with the most potential upside Reduce the tension between risk and opportunity Bring together disconnected data

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