​​​Top 10 Risks:

1. Regulatory changes and heightened regulatory scrutiny may affect the manner of production or delivery of products or services

2. Economic conditions will significantly restrict growth opportunities

3. Uncertainty surrounding political leadership in national and international markets will limit growth opportunities

4. Succession challenges and the ability to attract and retain top talent may limit the ability to achieve operational targets

5. Organic growth through customer acquisition and/or enhancement presents a significant challenge

6. Cyber threats have the potential to disrupt core operations significantly

7. Resistance to change may restrict necessary adjustments to the business model and core operations

8. Privacy/identity management and information security/system protection will be significant issues to manage

9. Anticipated volatility in global financial markets and currencies will create challenging issues

10. Uncertainty surrounding costs of complying with healthcare reform legislation will limit growth opportunities







Executive Perspectives on Top Risks for 2014

Protiviti partnered with North Carolina’s State University’s ERM Initiative to conduct our second-annual Executive Perspectives on Top Risks Survey and obtained the views of more than 370 board members and C-suite executives about risks that are likely to affect their organization in 2014.

Overall, the majority of executives rate the business environment as significantly risky, but is an improvement relative to 2013.

Executive Perspectives on Top Risks for 2014

​2014 Top Risks Survey Infographic

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Key Findings ​ ​
* ​The overall survey responses suggest a business environment in 2014 that is slightly less risky for organizations than it was a year ago - however, board members view it to be more risky this year compared to 2013.
* ​Regulatory change and heightened regulatory scrutiny represents the top overall risk for the second consecutive year.
* ​Economic conditions in domestic and international markets are again a highly ranked risk, but there is a notable year-over-year decrease in the risk score.
* ​Cyber threats and privacy/identity management not only rank among the top 10 risks for 2014, but are ranked even higher among many respondent groups, including large organizations.
* ​Strategic risk concerns show the largest year-over-year increase in risk scoring.
* ​Uncertainty surrounding political leadership affecting U.S. and international markets represents another key risk that may affect or restrict growth opportunities for organizations.

Because of the rapid pace of change in the global business environment, executives and boards of directors can benefit from a periodic assessment of risks on the horizon to best position their organizations for a proactive versus reactive response to risks that emerge and potentially impact their ability to achieve profitability and funding objectives. We therefore conclude our report with suggested questions that executives and boards should consider as they evaluate their risk assessment process.

We hope this report provides important insights about perceived risks on the horizon for 2014 and serves as a catalyst for an updated assessment of risks and risk management capabilities within organizations.

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