In our 2019 Survey, in partnership with AIG, we took a dive into Asia-Pacific risk managers’ greatest concerns and what tops your to-do lists for 2020. With more reporting increased risk engagement and team size, the stage is set for real progress in 2020. Your priority number #1? Risk culture.
Welcome to the 2019 StrategicRISK Asia-Pacific Risk Benchmarking Survey. As you will see, the results show an increasing maturity in many areas of risk management in the region.
Risk culture was identified as the number one focus for risk managers over the coming year, reflecting greater understanding of the impact it has on risk management within organisations. It is up to you to spread the word and foster awareness.
Another area of note is the change in top risk rankings. The results show that non-strategic areas are now outranking other areas of focus, with the top strategic level risk – the changing competitive landscape – being bumped from the number one spot last year to fourth place in 2019. External risks – economic and macroeconomic fears – rose to the top of the list.
It is hardly surprising that technology risks are ranked some of the highest concerns for risk managers in the region. However, the low ranking of climate change is surprising given the current increased global focus on this risk area, particularly from younger generations.
Susie Jones, CEO and co-founder of Cynch Security, said: ”I am surprised to see concerns about supply chain and cyber security risks reduce over the period given the large number of well-publicised losses in these areas recently.”
Increased board and senior management engagement is encouraging given the low ranking this has received in other surveys and shows Asia-Pacific risk managers are making real inroads in terms of engaging the right levels within their organisation.
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