State of Risk Oversight in Enterprise Risk Management

This technical report presents findings from the 14th edition of a study on enterprise risk management (ERM) practices, focusing on the state of risk oversight among organizations. It outlines the evolving challenges that business leaders face, including geopolitical turmoil, economic volatility, and technological disruptions, which necessitate proactive risk management. The report is based on an online survey conducted with 454 respondents from diverse organizational backgrounds, including large corporations and not-for-profits. Key insights highlight the maturity of risk management processes, the integration of risk management with strategic planning, and the importance of board oversight in risk governance. The report also discusses the disconnect between the complexity of risks organizations face and the maturity of their risk management processes. It emphasizes the need for organizations to enhance their risk management capabilities to achieve strategic objectives effectively. Additionally, the report includes probing questions for executives to assess their risk governance efforts and improve their risk management strategies.