Risk management has never been more critical to organizations. The rate of change is happening faster than ever in our world. The kinds of risks facing organizations evolve daily: third-party, supply chain, regulatory, privacy, operational, cyber, financial, environmental, etc. And these problems don’t exist in isolation — they’re interrelated risks that demand holistic responses.
Consider how the pandemic – a health and safety risk – created a downstream impact that opened the door for related risks: IT risks associated with remote work, corruption related to supply chain issues, and workforce management issues. Managing these risks on their own will never offer the big-picture view that an organization needs to thrive.
With that in mind, I have rounded up the trends that will shape the future of GRC and how we can adapt to meet those challenges.
Cybersecurity risks
Earlier this year, for only the second time in the history of the Allianz Risk Barometer, the threat of ransomware attacks, major IT outages and data breaches ranked as the biggest concern for companies globally.
There’s one contributing factor to mounting cybersecurity risks that I don’t…
