Risk Transformation: The Premise

Many financial institutions have recently undergone major risk transformations that drove universal risk capability uplift and cultural shift.

Uplifting risk management capability for financial institutions can be particularly challenging if the required transformation requires coordination across business areas and functions.

For two decades, there has been an intense focus on nonfinancial risks (NFRs). While regional or global “super incidents” originally drove the emergence of NFRs as a theme, the evolution of NFR management is ongoing, with variations in form, region and severity.