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Accenture 2019 Global Risk Management Study Financial Services Summary

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The Accenture 2019 Global Risk Management Study is the sixth edition of our study first published in 2009. It identifies financial services risk leaders' top concerns, such as disruptive technology and data breaches, and recommends actions to take. Learn more about the study and download reports for financial services, banking, capital markets and insurance: https://accntu.re/34bS0RA

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Accenture 2019 Global Risk Management Study Financial Services Summary

  1. 1. Accenture 2019 GlobalRisk ManagementStudy FinancialServices Summary The sphere of control
  2. 2. Copyright © 2019 Accenture. All rights reserved. 2 Evolutionofriskmanagement Tenyearsofexploringhowtheriskfunctionhasincreasingly beenaddingvaluetothebusiness. 2015 Paths to Prosperity Collaboration Partner 2017 The hidden value of risk TheRiseofDigital 2019 The sphere of control Complex,interconnected newrisks 2009 Managing Risk in extraordinary times CrisisManagement 2011 Risk management a source of competitive advantage BeginningMaturity 2013 Risk management for an era of greater uncertainty Disciplined,Integrated, Connected
  3. 3. Copyright © 2019 Accenture. All rights reserved. 3 The risk landscape is shifting rapidly. Can risk functions keep up? Smart technology fortifiesrisk resilience. Newrisks, olddata. Collaboration bolstersrisk- readiness. Today’srisks: complex, interconnected andemerging atpace. Digitalthreats demanda digitalresponse. Accelerate or be left behind.
  4. 4. Today’s risks: complex, interconnected and emerging at pace Copyright © 2019 Accenture. All rights reserved. 4 Geopoliticalanddisruptivetechnologyrisksriseup theagendainearningscallsandinvestorconferences. Source: Analysis of earnings calls and conference transcripts, from Dow Jones Factiva, of 225 financial services firms between 2010 and 2018.
  5. 5. Copyright © 2019 Accenture. All rights reserved. 5 Percentages relate to those that are not ‘fully capable’ of assessing risks associated with adopting each of the following technologies. Digital threats demand adigital response Themajorityofriskfunctionsarenot‘fullycapable’ofassessingrisks associatedwiththeirorganization’ssmarttechnologyadoption. Source: Accenture 2019 Global Risk Management Study
  6. 6. Copyright © 2019 Accenture. All rights reserved. 6 Smart technology fortifies risk resilience Riskfunctions’adoptionofsmarttechnologies toprocessandderivevaluefromdata. Source: Accenture 2019 Global Risk Management Study Adoption continuum
  7. 7. 7 New risks. Old data. Manyriskfunctionssimplydonothaveaccesstothedatatheyneed. Data sources currently used (now and expected in two years) to support risk management activity. Source: Accenture 2019 Global Risk Management Study * Banking only ** Capital Markets only *** Insurance only Data sources now Data sources expected in two years Copyright © 2019 Accenture. All rights reserved.
  8. 8. Copyright © 2019 Accenture. All rights reserved. 8 Collaboration bolsters risk-readiness. Oursurveyhasrevealedagenuineappetiteamongriskmanagersfor closercollaborationwiththefinancefunction.However,thisisnotreality. Percentage that say finance and risk leaders do not jointly provide input. Percentage that say have a close working relationship, but do not jointly input. Percentage that say finance and risk leaders may at times be in opposition on some issues, but have a close working relationship, and both provide input. Source: Accenture 2019 Global Risk Management Study Input of risk and finance into corporate strategy and ERM steering. Percentage that say finance and risk leaders do not jointly provide input. Percentage that say have a close working relationship, but do not jointly input. Percentage that say finance and risk leaders may at times be in opposition on some issues, but have a close working relationship, and both provide input.
  9. 9. Copyright © 2019 Accenture. All rights reserved. 9 Define your sphere of control
  10. 10. Copyright © 2019 Accenture. All rights reserved. 10 Prioritize what matters most.
  11. 11. Copyright © 2019 Accenture. All rights reserved. 11 Prepare the function by allocating resources smartly embracing latest technology and upskilling people.
  12. 12. Copyright © 2019 Accenture. All rights reserved. 12 Build a more proactive function diligently scanning the horizon for the next threats.
  13. 13. www.accenture.com/GlobalRiskStudy Download the 2019 Global Risk Study Reports: FinancialServices Banking CapitalMarkets Insurance

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