Top Risk Review June 2021
- 29 June 2021
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Buy the June 2021 Top Risk Review report for insights into the key current top operational risks facing the financial services industry. The results are based on the personal opinions of risk professionals from 60 organisations across our global membership.
The report is available to purchase for £750, or you can buy the full Monitoring the Risk Landscape package (this includes the Operational Risk Horizon 2021 report, the June Top Risk Review and the second Top Risk Review of 2021, published in November) saving your firm £500 across the year. The report is also available to members to download on the member-only website for free as part of ORX Membership.
What does the current risk landscape look like?
The economic and geopolitical outlook has been, and will continue to be, uncertain and although on the surface it appears that there has been little change to the top 5 risks, the external environment continues to shift rapidly, and it is a key driver impacting risk profiles.
Overall, the latest Top Risk Review has indicated a subtle shift in the industry’s operational risk profile. Although still prominent, we are beginning to see a reduction in the risks directly associated with the pandemic and an increase in risks associated with the acceleration of digital transformation.
Top operational risks
Here's a brief overview of just some of the headline findings from the study:
- Information security (including cyber) remains the single greatest industry concern, with the potential to impact organisations financially, operationally and reputationally
- Increased reliance on third party arrangements is driving concern around concentration risk and increased business continuity exposure, particularly where oversight of third-party controls is deemed insufficient
- Regulatory compliance is now a top-three risk as the regulatory landscape continues to change at speed
- Technology risk remains a key concern, with growing customer expectations and competition from FinTechs seeing an increasing number of firms adopt new technology or systems (often via third parties)
Buy the report for further insights
The 23-page Top Risk Review report gives you insight into the most significant current material risks impacting the industry. The study also dives into the key drivers of these risks and how they've changed. The Top Risk Review June 2021 report provides vital information and analysis for operational risk teams around the globe, with sections including:
- Top operational risks facing the industry
- Key impacts
- Overall exposure
- Key risk drivers of the top risks
- Key factors impacting overall material risk profiles
This report was conducted as part of our new range of monitoring the risk landscape studies, which cover both emerging and material risks. If you're not a member of ORX, you can buy a copy of the Top Risk Review June 2021 report for just £750.
Alternatively, you can choose to pay £1,750 for access to all three studies from our 2021 Monitoring the Risk Landscape package (this includes the Operational Risk Horizon 2021 report, the June Top Risk Review and the second 2021 Top Risk Review) saving your firm £500 across the year.