Not only do they need to establish new risk processes and reporting lines after restructuring has taken place, but they will also need to run keep up with the pace of change in risk management practices which is taking place on the global stage.
Risk is an integral component of today's business environment.
Globalisation, business transformations, mergers and acquisitions, competitive pressures and technology advancements are some of the powerful forces driving business change. Such change carries an element of risk - either positive or negative. These changes might be happening at a rate faster than you can manage efficiently and effectively. The result could be either missed opportunities, or worse, a business crisis. Organisations of all types are now realising that risk is no longer just a threat, but can be a powerful asset that delivers competitive advantage.