Executive Perspectives on Top Risks Survey 2023

This report presents findings from the 13th annual Executive Perspectives on Top Risks Survey, which includes insights from 1,215 board members and C-suite executives regarding perceived risks in the financial services industry. The survey identifies key near-term and long-term risks, emphasizing the interconnectedness of operational, macroeconomic, and strategic risks. Notably, operational risks dominate the near-term concerns, with cyber threats and third-party risks ranking high. The report highlights the financial services industry's heightened awareness of risks compared to other sectors, driven by factors such as market volatility, cyber threats, and regulatory changes. The report also discusses the importance of horizon scanning and scenario planning for organizations to adapt to emerging risks. Additionally, it outlines the significance of economic conditions, including inflation and interest rates, as critical long-term risks. Overall, the findings underscore the need for continuous investment in technology, talent, and compliance to navigate the evolving risk landscape effectively.