EY Client Portal Library About us Newsroom Connect with us Global (English) Home Insights Industries Services Careers Alumni Home » Services » EY - There's no reward without risk: GRC survey 2015 - Looking at risk differently There’s no reward without risk: GRC survey 2015 Looking at risk differently Inside Looking at risk differently How can organizations build a risk aware organization? GRC survey findings Today's biggest business concerns need new responses to risk Share Operating a business requires taking risks. Organizations that identify and manage these risks well are positioned to grow and remain successful. In our 2015 governance, risk and compliance (GRC) survey, we asked 1,196 participants, around the globe and across sectors, how well they are managing risk and what they need to do to better manage the risks that drive performance. Organizations today are challenged with managing a rapidly-changing risk landscape including market volatility, geopolitical crises, wide-spread economic changes, regulatory reforms, and cyber threats. While this creates many challenges for organizations, it also presents an opportunity to take advantage of the potential of risk. In this year’s survey, we found that organizations are making progress in improving the way they manage risk in response to a changing risk landscape. However, organizations also indicated that there is still further room for improvement and opportunities to be seized. This requires a business to change the way they work and become a more risk-aware organization. Historically, risks have been categorized in many different ways. Regardless of how they are organized, it is beneficial to consider risks in the context of your business and how best to respond to those risks. “Companies that think about risk in the context of their business decisions are better positioned to manage the risks that drive performance.” - Matt Polak, EY Global Risk Transformation Leader Broadly, risks can be managed by applying the following three categories: Strategic risks that must be accepted as they offer positive benefits Preventable risks that should be avoided or mitigated as they offer negative impacts External risks that cannot be controlled, offering negative impacts and/or positive benefits Identifying, managing and responding to risk should be an integral part of an organization’s everyday activities. Our GRC survey tells us that organizations are looking for a more comprehensive, coordinated and innovative approach to enable them to successfully manage the opportunities and the hardships presented by risk. This requires transforming the way the organization views and capitalizes on risk — building a risk-aware organization. Next Connect with us Stay connected with us through social media, email alerts or webcasts. Or download our EY Insights app for mobile devices. Download the Governance, Risk and Compliance Survey 2015 as a PDF Infographic Related content Purpose-led transformation Program risk management Embracing a digital future Cybersecurity Contact us Paul van Kessel Global Risk Leader +31 88 40 71271 Michael O’Leary Global Internal Audit Leader +1 585 987 4605 Matt Polak Global Risk Transformation Leader +1 412 644 0407 Amy Brachio Americas Risk Leader +1 612 371 8537 Jonathan Blackmore EMEIA Risk Leader +971 4 312 9921 Iain Burnet Asia-Pacific Risk Leader +61 8 9429 2486 Yoshihiro Azuma Japan Risk Leader Privacy BCR Legal Accessibility Global Code of Conduct Site map Our locations Contact us EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. This site uses cookies to provide you with a personalised browsing experience. By using this site you agree to our use of cookies as explained in our Privacy Policy. Please read our Privacy Policy for more information on how we use cookies and how you can manage them. Close