Lead. Navigate. Disrupt - Insights And Research To Accelerate Performance By Embracing Complexity.

Legal News & Analysis - Asia Pacific - Regulatory & Compliance

17 June, 2017

 

Lead. Navigate. Disrupt - Insights And Research To Accelerate Performance By Embracing Complexity.

 

Explore research and examples from three risk management surveys, analyzing responses from more than 1,000 executives. See strategic, cyber, financial, regulatory, operational, and forensic risk through a new lens. 

 

For organizations that see risk, complexity, and disruption as forces to resist, there is an opportunity to change perspective and see these forces from a new angle. In today’s uncertain financial and regulatory environment, leaders who innovate and embrace complexity can seize competitive advantage. Explore findings from three surveys that cover the benefits of a value-focused risk strategy; risk management in the extended enterprise; and how an elevated risk management function—with direct lines to the C-suite and the board—can drive organizational strategy. Learn how you can lead, navigate, and disrupt in your industry.

 

Shift risk strategies, accelerate performance

 

The reality is that opportunity does not exist without risk. But when risk is taken strategically—with a value-based approach—new opportunities to accelerate performance emerge.

To what extent have organizations integrated value-focused risk strategies? Is this merely a vision or a robust reality? To find out, Deloitte teamed with Fortune Knowledge Group on a new risk management research report, Shift risk strategies, accelerate performance. Together, we surveyed 300 executives to gain insight and examples into strategic risk, to learn how far their organizations have come, the benefits they see, and the obstacles they face.

Here’s what we found: Opportunity abounds. While 88 percent of respondents indicate that they recognize value creation as a key goal of their risk strategies, only two in five have been successful in their implementation. Read the report to learn what the future may hold for smart risk takers.

 

 

Shift risk strategies, accelerate performance

 

Overcoming threats and uncertainty: Extended enterprise risk management

 

We live in an interconnected world. Businesses today have learned that employing an “ecosystem” of third parties to drive innovation can help make their organizations more flexible and agile, while saving costs. But with opportunity comes risk. When relying on third parties, their shortcomings become yours—and can damage your organization’s brand reputation, lead to regulatory penalties, and disrupt your ability to meet customer expectations.

In Deloitte UK’s global survey report, Overcoming threats and uncertainty: Extended enterprise risk management, over half of responding organizations have a high or critical level of dependence on their extended enterprise. But just over one in ten are “fully prepared” to deal with the increased uncertainty in the external environment. What’s clear is that, for many organizations, there’s room for improvement.

These findings and research also show that most organizations will need to put more effort around such areas as dependency and vulnerability, relationship management, risk management processes, technology platforms, and emerging delivery models. Gain insights into effectively navigating the risks and opportunities that come with your third-party relationships and using your ecosystem to gain competitive advantage. 

 

Overcoming threats and uncertainty: Extended enterprise risk management

 

Taking aim at value: Avoid overconfidence and look again at risk

 

Disruption can come when organizations least expect it. And with profound changes underway in culture, commerce, technology and business models, regulatory frameworks, and everything in between, companies need to proactively avoid overconfidence and be catalysts for change.

A key to this strategy: An elevated risk management function that balances risk and opportunity to create value.

In Deloitte's global survey report, Taking aim at value: Avoid overconfidence and look again at risk, Deloitte teamed with Forbes to survey more than 300 non-CRO senior stakeholders around the globe to get an outside-in view of the role of the risk management function.

Our research found that the majority of respondents are confident about their risk management programs. But almost three out of five responding companies say their risk management leader needs to spend significantly more time performing the strategist role. And only 10 percent of organizations have a risk management leader who reports to the board. These are signs that, while confidence is high, strategic aspects of risk are likely receiving inadequate attention.

Click here to read the report and elevate your risk management function. So it can help you disrupt, instead of being disrupted.

 

See also link to the original source here.

 

 

For further information, please contact:

 

Weiheng Jia, Partner, Qin Li Law Firm, a Chinese law firm and a member of the Deloitte Legal global network.

weihengjia@deloittelegal.com.cn

 

Mark Schroeder, Qin Li Law Firm, a Chinese law firm and a member of the Deloitte Legal global network.

marschroeder@deloittelegal.com.cn