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2015 Global Risk Management Study
Industry: North America Banking
Key findings
2Copyright © 2015 Accenture All rights reserved.
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
Contents
5Copyright © 2015 Accenture All rights reserved.
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
Our methodology
7Copyright © 2015 Accenture All rights reserved.
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
2015: Choose Risk and Return
9Copyright © 2015 Accenture All rights reserved.
Risk management plays a critical role in
inn...
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
Paths to prosperity:
Choose risk and return
11Copyright © 2015 Accenture All rights reserved.
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
An evolving landscape
21Copyright © 2015 Accenture All rights reserved.
Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture....
To learn more about the study
and to obtain your copy of the
North American Banking Report
please go to:
http://www.accent...
2015 Global Risk Management Study
Industry: North America Banking
24
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This presentation is intended for general...
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Accenture 2015 Global Risk Management Study: North American Banking Report Key Findings and Insights

Accenture’s 2015 Global Risk Management Study: North American Banking Report provides the insights of 50 banking industry executives from the retail, corporate, mortgage and card banking areas, including in-depth qualitative interviews with senior banking executives. Among the findings are three key challenges facing banks and their risk management functions today. See the attached presentation for more on the report's findings and insights. Visit www.accenture.com/riskstudy2015 to learn more.

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Accenture 2015 Global Risk Management Study: North American Banking Report Key Findings and Insights

  1. 1. 2015 Global Risk Management Study Industry: North America Banking
  2. 2. Key findings 2Copyright © 2015 Accenture All rights reserved.
  3. 3. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 34% of NA bank respondents are open to greater digital risk – less than the global average. 62% expect cyber risk to increase. 44% of NA bank respondents believe risk is already a significant facilitator of long-term profitable growth (28% for all surveyed banks**). 66% think risk will be critical or important to innovation and product development. Key challenges North American (NA) banking respondents to the Accenture 2015 Global Risk Management Study* face 3 key challenges: 1 Regulatory fall-out of systemic collapse 2 Tough economic headwinds 3 New entrants from technology sector 30% of NA bank respondents see very frequent interaction between the CRO and board. 12% think risk function interacts very frequently with the CIO. 62% of surveyed NA banks think cyber and IT risks will become more severe. 78% say emerging digital risks are taking up more and more of the CRO’s time and energy. 30% of NA banks surveyed make extensive use of analytics to manage credit risks. 26% use analytics extensively for operational risks. 26% of NA banks surveyed have extensive digital technology knowledge. 42% have recruited data analysts and scientists (49% for all surveyed banks**). Risk management supporting growthApproach to digital Risk’s influence remains limited in places Emerging operational risks Underutilized analytics Digital talent For more information, please visit: http://www.accenture.com/riskstudy2015 *Accenture 2015 Global Risk Management Study – North American Banking respondents **Accenture 2015 Global Risk Management Study – Banking respondents Risk management in North American banking © 2015 Accenture. All rights reserved. 3
  4. 4. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 61% of risk masters believe their risk function can play a critical role in enabling profitable growth. 54% of risk masters believe they can help establish this growth “to a great extent”. 35% of non-masters report the same view. Around 1 in 10 respondents to the Accenture 2015 Global Risk Management Study are “risk masters”. 10% 61% of risk masters agree strongly that emerging risks, such as cyber and digital, are consuming a greater proportion of the CRO’s time. 35% of non-risk masters feel strongly about this. 61% of risk masters agree strongly that they employ dedicated technology specialists to help manage digital risk. 27% of non-masters feel the same. Stronger focus on profitable growth Stronger focus on emerging risks Growing digital experience For more information, please visit: http://www.accenture.com/riskstudy2015 Source: Accenture 2015 Global Risk Management Study – all respondents What makes a risk master? Better handle on regulatory and compliance More extensive use of analytics 37% of risk masters believe strongly that regulatory change is receding in relation to other requirements. 25% of non-risk masters see regulatory change receding in the same way. 36% of non-masters feel the same. More risk masters make extensive use of analytics to manage key risk categories including fraud and financial crime, cyber and IT risk, and credit, market and regulatory risks. Risk masters are also more likely to be investing heavily in digital technologies. 4© 2015 Accenture. All rights reserved.
  5. 5. Contents 5Copyright © 2015 Accenture All rights reserved.
  6. 6. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 Contents 6Copyright © 2015 Accenture All rights reserved. A Our methodology B Paths to prosperity: Choose risk and return C An evolving landscape
  7. 7. Our methodology 7Copyright © 2015 Accenture All rights reserved.
  8. 8. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 Introduction 4th iteration of our Global Risk Management Study (2009, 2011, 2013) 2015 Global Risk Management Study: Paths to Prosperity For the 2015 study, we surveyed 470 CFOs, CROs, CEOs, CCOs and CDOs involved in their organization’s risk decisions Respondents came from North America, Europe and the Asia Pacific regions Survey focused on three industry sectors: Banking, Insurance and Capital Markets This sector report presents the insights and perspectives of 50 North American respondents 8Copyright © 2015 Accenture All rights reserved.
  9. 9. 2015: Choose Risk and Return 9Copyright © 2015 Accenture All rights reserved. Risk management plays a critical role in innovation and product development and is a significant supporter of long- term profitable growth. A collaborative partner, risk management is a key partner in facilitating digital transformation. Source: Accenture 2015 Global Risk Management Study – North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015
  10. 10. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 Study demographics 10Copyright © 2015 Accenture All rights reserved. We surveyed 470 C-suite officers across all geographies and 12 countries Country Geography Regional target Respondents Australia Asia Pacific 150 30 China 30 Hong Kong 30 Japan 30 Singapore 30 UK Europe 170 50 Germany 30 France 30 Spain 30 Italy 30 USA North America 150 100 Canada 50 Total 470 470 Company size Total Between US$1bn and US$5bn 235 Revenues over US$5bn 235 Total 470 Respondent Total Chief Risk Officer 141 Chief Executive Officer 78 Chief Financial Officer 147 Chief Compliance Officer 28 Chief Operations Officer 31 Chief Data Officer/CIO 45 Total 470 Sectors Sector count Asia Pacific Europe North America Banking 150 50 50 50 Capital Markets 170 50 70 50 Insurance 150 50 50 50 Total 470 150 170 150
  11. 11. Paths to prosperity: Choose risk and return 11Copyright © 2015 Accenture All rights reserved.
  12. 12. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 12 Seeking profitable growth in a challenging environment Copyright © 2015 Accenture All rights reserved. Looking for a roadmap through the backdrop of a cloudy outlook Current Challenges • US banking sector yield disappointing results, despite recovering US economy and stronger balance sheets • Current environment includes regulatory fines, low interest rates, rising costs in risk and compliance operations, and capital constraints due to regulatory requirements • Canadian banks are rated soundest in the world, yet face a threats from benign economic conditions such as low commodity prices and the potential for higher interest rates Future Issues Banks are encouraged to: • Explore new ways to increase efficiency and productivity to support sustainable and profitable growth • Embrace innovation, especially with regard to new digital technologies as well as digitally-enabled business models • Reposition risk management to play a proactive role in generating efficiency and growth, instead of just firefighting macro economic contingencies
  13. 13. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 13 Risk appetite returning in a targeted way Figure 1: Senior Management’s appetite for risk Copyright © 2015 Accenture All rights reserved. Actions to Consider • Position risk management as a strategic partner to help answer “how” not “yes/no” • Seize the relatively narrow window of opportunity to develop digital offerings, or risk losing to non-traditional competitors • Encouraged to up the pace of innovation in digitally-enabled products and services Key Findings and Challenges • North American (NA) banks, active in seeking new growth opportunities, but at a slow pace • Comparatively, NA banks have slightly stronger appetite for new product development, M&A, and business model change • Surprisingly, NA banks have a smaller appetite for digital initiatives and geographic expansion
  14. 14. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 14 Digital, a key channel to help drive growth for NA banks Copyright © 2015 Accenture All rights reserved. Looking for a roadmap through the backdrop of a cloudy outlook, digital could offer benefits on both sides of the profit equation Digital for Growth • Guards against competition: Technology-powered, non-traditional banking companies target disruption and disintermediation of traditional banking business models (e.g., Lending Club Corp – a P2P lending platform) • Focuses on the customer: Omni-channel approaches to banking with highly responsive, seamless interaction across branch, online and mobile • Becomes center of the digital ecosystem: Provides bridges to other online services and serves as a digital hub • Lowers cost to serve customers: Transaction costs in digital channel may be less than in a physical branch • Leverages regulatory resources: Manages staff costs assigned to responding to regulatory requirements amid a tight market for risk talent Digital for Efficiency • Competition is fierce, the pace of innovation is rapid • Overwhelming percentage (72%) of 18-34 age segment say they will look to non-banks to fulfill their banking needs* Burning Platform * The Everyday Bank: A New Vision for the Digital Age,” Accenture, June 2014. Access at: http://www.accenture.com/us-en/Pages/insight-everyday-banknew- vision-digital-age-banking.aspx
  15. 15. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 15 Digital transformation as the cornerstone of profitable growth Copyright © 2015 Accenture All rights reserved. Figure 2: Rating the importance of the risk function as a means of achieving the following Key Findings and Challenges • Compared to peers in other regions, NA banks’ risk functions are relied upon to help manage liquidity/cash flow and support profitable growth • Looked to help navigate volatile economic and financial environments, while simultaneously reducing the cost of capital Actions to Consider • Digital transformation could help reduce cost to serve, with new products as well as migration from costly agents to less expensive digital channels • Digital could help strengthen risk management by providing data in near real-time to support better decision making %
  16. 16. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 16 Risk management as a key partner in facilitating digital transformation Copyright © 2015 Accenture All rights reserved. Figure 3: Interaction between the organization’s CRO and the following key executives Key Findings and Challenges • Compared to peers in other regions, NA banks’ CROs have greater interaction with the Board, CFO and CMO • However, NA banks’ CROs lag in frequent interactions with CCOs, business unit heads and most notably, the technology organization (CSO, CIO, CTO) Actions to Consider • Continue to articulate the value of risk to the overall business and build closer relationships with all C-suite executives • Expand the current set of risk responsibilities to help meet regulatory and operational demands • Position risk function to help control risks associated with growth plans %
  17. 17. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 17 The shift to digital introduces new risks to operations Copyright © 2015 Accenture All rights reserved. Figure 4: Expected change in severity of risks facing the business over the next two years Key Findings and Challenges • Compared to peers in other regions, NA banks are more concerned about the severity of credit, strategic, regulatory and market risks • Notably, cyber, liquidity and fraud risks do not register as severe a concern among NA banks • However, new exposures could come from mobile and online channels and operations Actions to Consider • Assess the security of operations against the backdrop of a quickly widening ecosystem • Create a risk culture that is appropriate and robust enough for mobile and online channel operations support teams • Rapidly develop procedures and policies to help manage emerging operational risks
  18. 18. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 18 Analytics, a powerful tool to help enhance the customer experience Copyright © 2015 Accenture All rights reserved. Figure 5: Risk management’s use of data and analytics in addressing the following types of risk. Key Findings and Challenges • NA banks tend to use analytics in targeted areas and functions, such as assessing business risks, government fiscal crises, cyber and IT risks, and strategic risks • Compared to the rest of the world, NA banks rely less on analytics to manage credit and operational risks Actions to Consider • Use analytics with greater applicability in both a forward looking view of risk • Leverage analytics to enhance customer offerings, such as more rapid decisions on loan services • Harness the power of analytics with investments in big data, other digital tools %
  19. 19. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 19 The transition to digital and the demand for new skills and capabilities in the risk function Copyright © 2015 Accenture All rights reserved. Figure 6: Types of skills the bank recruited in the past two years Key Findings and Challenges • Compared to peers, recruitment has been slower for many NA banks • As a result, NA banks have recruited less key skills in nearly every area – the exception being Accountants • This lag is expected to continue in the next two years Actions to Consider • To keep pace with the innovation and growth of global peers, NA banks should increase investment in risk professionals • Invest in training and recruit new risk professionals to support digital innovation, and increase the risk function’s involvement in broader strategic discussions %
  20. 20. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 20 Conclusion: At a crossroads Copyright © 2015 Accenture All rights reserved. Rise to the Digital Challenge • For innovation and growth • For operational efficiency and resilience For Canada For United States • Leverage current resiliency and strength of banking sector to innovate • Consumer trends are not developing as rapidly as US • Build on importance of banking sector with US’s relative economic strength to grow • Expand products and services to meet the requirements of demanding consumers
  21. 21. An evolving landscape 21Copyright © 2015 Accenture All rights reserved.
  22. 22. Source: Accenture 2015 Global Risk Management Study - North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015 2005 2015VS Decisions informed by past events Risk only outlook Focused on credit, market and operational risk Narrow definition of operational risk Clear demarcation between three lines of defense “Left brain” – quantitative; analytical approach Prioritized control and prevention Tactical attitude: centered on day-to-day risks Spreadsheet-based management Digital? What’s digital? Looking forward, with “next day” thinking Recognizing risk AND inherent opportunity Aware of a growing range of emerging risks More comprehensive definition of operational risk Three lines of defense, with fluid interaction embedded in the business “Left AND right brain” – creative, innovative understanding A balance of control, prevention, and enablement Strategic awareness: focused on long-term business challenges Increasingly integrated data sources Emphasis on digital risks and opportunities The Risk Landscape Risk management in 2025 Analytics now permeates decision making Companies are exploring robotics and artificial intelligence to manage transactional risks Behavior prediction helps to effectively inform risk management Rise of the Chief Risk and Return Officer Risk management is the career path to the C-suite Single data source drives reporting and analytics activities For more information, please visit: www.accenture.com/riskstudy2015 © 2015 Accenture. All rights reserved.
  23. 23. To learn more about the study and to obtain your copy of the North American Banking Report please go to: http://www.accenture.com/bankin g-north-america-riskstudy2015 23Copyright © 2015 Accenture All rights reserved. Source: Accenture 2015 Global Risk Management Study – North American Banking respondents. Access at: http://www.accenture.com/riskstudy2015
  24. 24. 2015 Global Risk Management Study Industry: North America Banking 24 Disclaimer: This presentation is intended for general informational purposes only and does not take into account the reader’s specific circumstances, and may not reflect the most current developments. Accenture disclaims, to the fullest extent permitted by applicable law, any and all liability for the accuracy and completeness of the information in this presentation and for any acts or omissions made based on such information. Accenture does not provide legal, regulatory, audit, or tax advice. Readers are responsible for obtaining such advice from their own legal counsel or other licensed professionals. About Accenture Accenture is a global management consulting, technology services and outsourcing company, with more than 323,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. Copyright © 2015 Accenture All rights reserved.

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