Risk Management Transformation and Challenges

This document is a research report examining the evolving landscape of risk management, emphasizing the shift from reactive responses to proactive anticipation of risks. Conducted by Economist Impact and sponsored by Iron Mountain, the report analyzes key internal and external factors influencing organizations' risk strategies. The findings derive from expert interviews and a survey of 656 executives across various industries in multiple countries. It discusses four pivotal areas transforming risk management: workplace evolution, cybersecurity, sustainability, and operational efficiency. Additionally, it addresses significant challenges faced in risk management, including difficulties in measuring benefits, resourcing issues, and the need for improved coordination across corporate structures. By acknowledging the growing importance of risk management, particularly in light of recent global disruptions and emerging technologies, the report outlines how organizations can better prepare for future uncertainties and adapt their strategies accordingly. The insights provided aim to foster a more resilient approach to managing risks.