Risk - Ernst & Young - Global

Risk

Good risk management doesn’t slow an organization down – it helps it go faster. Effective risk management not only protects existing value, but also results in better and faster decision making, reduced costs, and improved performance. Many organizations, however, are not getting full value from their investments in risk management because their risk processes are disconnected and critical data and information are not shared.

Moreover, as global risks continue to shift at a dramatic pace, organizations must continuously evaluate their risk management processes to ensure that they are focused on the risks that matter. Organizations need to understand and manage the risks that threaten their strategic objectives and be poised to capitalize on opportunities that will bring growth and efficiency.

Most organizations will be asked to do more with the same resources. The pressure is on, not only to improve risk coverage, but also to decrease costs and improve performance. We start by helping organizations answer some key questions, such as:

• What are your key risks and how they are being managed?
• Do you have overlapping risk functions or gaps in coverage?
• Have we optimized the use of technology?

Effective risk management not only provides better protection for your business, but also improves business performance and decision making and, ultimately, competitive advantage.

The top 10 risks for business

In today's post-downturn economy, a variety of business risks have emerged -- and some have become more prominent. From the threat of increased regulation to emerging markets to social responsibility and more, our survey of leading industry executives shows which risks you should be prioritizing this year.

Transforming risks into opportunities

Risk-taking is part of business: no risk, no reward. The challenge in risk management is therefore not to avoid risks, but to gain a competitive edge by transforming them into opportunities. In three reports, we offer insights on how to create and protect value through best practice in risk management.

The future of risk

This new survey of more than 500 global companies provides a snapshot of the current risk environment (pdf,360.13 kb) at a time when mixed reports are filtering through about the medium- and long-term economic outlook. It examines companies' attitudes towards risk management and how recent global events have affected management approaches to risk.