New Deloitte Report on Risk Trends
Deloitte recently released a report on risk trends titled “The Future of Risk: New Game – New Rules”. (Report) This report profiles 10 trends that are changing the risk landscape during 2017 and beyond. These trends should be of interest to risk managers across all types of organizations.
• Cognitive Technologies Augment Human Decision Making
• Controls Become Pervasive
• Behavioral Science Informs Risk Insights
• Vigilance and Resilience Compliment Prevent as Leading Practices
• Innovation Leads, Regulation Follows
• Risk Becomes a Performance Enabler
• The Networked Economy Demands Collective Risk Management
• Disruption Dominates the Executive Agenda
• Reputation Risks Accelerate and Amplify
Each trend includes a brief overview of the forces driving these changes. The report also details potential opportunities that these changes present. Exploiting these trends can help risk management programs increase the value they provide to their organizations. Each change driver contains a short list of items that risk managers should consider and manage if they move forward with efforts to exploit the potential opportunities. Several of the identified potential threats and pitfalls may also be considered as potential benefits to organizations.