Risk management in a shifting business landscape

3 min read

This blog post was authored by Matthew Moore on The Protiviti View.

The economy, talent and cyber threats represent the most pressing risk issues organisations face over both the near- and long-term, with artificial intelligence (AI) concerns lurking as well. Yet board members and executives view their organisations as more resilient and better prepared to manage through change. These are among the notable findings in the latest Executive Perspectives on Top Risks Survey from Protiviti and NC State University’s ERM Initiative.

Topics

Board Matters Cybersecurity and Privacy Business Performance Artificial Intelligence

Industries

Technology, Media and Telecommunications Banking and Capital Markets Asset and Wealth Management

This global study measures the most pressing near-term risks looking out over the next two to three years, as well as the 10-year outlook. The chart below illustrates the top 10 near-term risks.

Respondents also provided their views on the long-term risk outlook, selecting the top two risks from each category in the survey (macroeconomic, strategic and operational) that they see as having the greatest impact on their organisations over the next decade.

Among the highlights from our global survey:

While board members and executives believe their organisations are better prepared for managing change, they remain wary of what’s around the corner, underscoring the need for technology-enabled horizon scanning and effective scenario planning.
The economy remains the top near-term risk globally, reflecting collective fatigue around economic uncertainty that has been weighing on leaders since COVID.
Cyber threats require constant adaptation to an evolving threat landscape.
The regulatory environment — changes, heightened scrutiny and aggressive enforcement — remains a prominent concern.
AI- and talent-related risks are intertwined, revealing concerns about the availability of labour and skills to leverage emerging technologies. Of note, three AI issues landed in the top 10 list of global near-term risks.

Our report, Executive Perspectives on Top Risks for the Near- and Long-Term, contains detailed analyses of how boards of directors and C-suite executives rate the impact of 32 specific risks. The report includes detailed results and analysis by role, industry, organisation size and type, and geographic region.

The executive summary, full report, infographic and other resources are available for complimentary download here. Protiviti is hosting a complimentary one-hour webinar on February 25, 2025, at 10 a.m. PST/1 p.m. EST, to discuss the survey findings. Register for the webinar here.

Risk Transformation

We work with your organisation to design, execute, embed, and sustain risk transformation initiatives. Worthwhile risk transformation does more than reduce the risk of non-compliance and regulatory penalties. It creates real business value by reducing operational costs and improving the efficiency and quality of risk d...

Business Continuity and Resilience

We help organisations minimise and mitigate the risks associated with unplanned events. We revisit business continuity plans and develop comprehensive technology resilience strategies to protect your people, brand, operations, revenue, and remain compliant.

Technology Risk Management

We help design and implement operating models to manage technology risk and better control IT systems, people and processes. Our technology risk offerings reduce cost and risks while increasing agility.