- Cybersecurity remains the foremost concern for 75% of global banking chief risk officers (CROs) for the year ahead, driven by escalating geopolitical tensions.
- Geopolitical risk has surged from 12th to 3rd place in near-term risk rankings.
- Wholesale credit risk has overtaken liquidity as the primary financial risk for CROs over the next 12 months.
The latest EY and Institute of International Finance (IIF) bank risk management survey reveals that geopolitical risk continues to exert significant pressure on banks worldwide. For the third consecutive year, cybersecurity has retained its position as the top near-term risk.
The 14th edition of this joint report, based on survey data from 115 banks across 45 countries, highlights the critical issues that banking chief risk officers (CROs) identify as the most pressing for their organizations both now and in the future.
Cybersecurity emerges as the primary concern long term, with 75% of CROs agreeing it is the chief risk over the next 12 months, and remains as the primary near-term concern, 87% stating it will remain so for the next three years. Operational resilience (38%) and geopolitical risk (36%) have newly entered…
