Accenture 2017 Global Risk Study: Financial Services Executive Summary

2017 GLOBAL RISK MANAGEMENT STUDY
Copyright © 2017 Accenture. All rights reserved. 2
IN ADDITION TO THE SURVEY WE CONDUCTED QUALITATIVE INTERVIEWS
BANKING
INSURANCE
CAPITAL MARKETS
The Accenture 2017 Global Risk Management Study is the fifth edition of our study
first published in 2009.
CFOs, CROs, CEOs, CCOs, CDOs
who are involved in their
organization’s risk decisions
COMPANY SIZE
50% with global revenues or income
between US $1bn & 5bn, 50% with
revenues over US $5bn
SURVEYED 475
Each from each of Europe, North
America, Americas and Asia-Pacific.
This includes key markets such as the
Canada, US, Germany, France, Italy,
Spain, UK, Australia and Japan to
enable analysis at country level
100 TO 200 RESPONSES FOCUSED ON THREE
INDUSTRY SECTORS:
Accenture 2017 Global Risk Management Study: Executive Summary.

RISK STUDY HERITAGE
TREND WATCHING
BEGINNING
MATURITY
CRISIS
MANAGEMENT
THE RISE
OF DIGITAL
COLLABORATION
PARTNER
DISCIPLINED,
INTEGRATED,
CONNECTED
2009 2011 2013 2015 2017
Since 2009, Accenture has conducted regular in-depth research on risk management.
Over time, the risk function has evolved—from crisis management in 2009 to today’s more
integrated, fluid and maturing discipline.

1
RISK
INTEGRATION
2
RISK
TECHNOLOGY
3
RISK
TALENT
BARRIERS PERSIST IN 2017
of respondents
say that their risk
management activities
are coordinated across
specific lines of business
say they are highly
proficient at using
Robotic Process
Automation (RPA)
say that a shortage
of skills in new and
emerging technologies
impedes the effectiveness
of the risk function
Our 2017 study finds the integration of risk management across the organization,
technology’s growing influence and the changing profile of the risk professional. Despite
progress, barriers persist and the potential of the function and people remains untapped.
19% 13% 69%

The gap between risk
and finance functions
has been closing,
while the impact of
integration on the risk
function has been
growing.
THE
EVOLUTION
OF RISK
INTEGRATION
2009 TO 2015
Accenture 2017 Global Risk Management Study:
Executive Summary.

RISK INTEGRATION
WHAT WE FOUND IN 2017
Coordination of risk
activities remains a
challenge for the function.
At the root of this lack
of connectivity is the
challenge of creating
a common data platform,
with consistent, complete
and comparable data that
can serve as a foundation
for the reporting, analytics
and decision making
in the organization.
24% say that their
risk management
activities are
coordinated across
risk types
24%
19% say that their
risk management
activities are
coordinated across
specific lines
of business
19%
Just 23% point to
strong integration
between the two
23%
53% say there is
duplication of effort
in risk management
activities across
lines of business
53%
LACK OF
COORDINATION
ACROSS RISK
ACTIVITIES IN
THE FUNCTION
SIMILAR LACK OF
COORDINATION
ACROSS LINES
OF BUSINESS
RISK AND FINANCE
INTEGRATION IS
PROGRESSING
SLOWLY
RISK TEAMS FACE
INCREASED
INEFFICIENCIES
AND CHALLENGES
FACES BY
RISK TEAMS

ADDRESSING THE CHALLENGES
INTEGRATE RISK DEEPLY ACROSS THE BUSINESS
BE AN INTEGRATOR
Integrators are those in our 2017 study that operate
effectively across multiple dimensions of the business, often
up to the group level, and bringing together risk management
activities in a consistent way.
Improve integration between the risk function and the rest
of the organization with a strong foundation of common
data and a “single version of the truth”.
• Outperform counterparts
across almost all risk key
performance indicators
• Significantly more likely to
coordinate risk
management centrally
across specific lines of
business
• Twice as likely to have
a fully integrated finance
and risk model
• Better at balancing risk
management at the local
level with organization-wide
risk priorities
• Much more likely to adopt
a standardized model
to manage risk

Risk technology has
evolved over the years
to drive innovation
and strategic
decision-making.
THE
EVOLUTION
OF RISK
TECHNOLOGY
2009 TO 2015
Executive Summary.

RISK TECHNOLOGY
The adoption of smart
technologies such as RPA and
artificial intelligence (AI) allows
for greater efficiency and
productivity, but many are still
in early stages of adoption, due
to the following challenges:
69% 73% 66%
69% say legacy
technologies within
the risk function
impede effectiveness
73% say increased
velocity, variety and
volume of data impede
effectiveness
66% say lack of
right capabilities is
an important barrier
LEGACY
TECHNOLOGIES
INCREASED
VELOCITY, VARIETY
AND VOLUME OF DATA
RIGHT ABILITIES
LACKING

ADDRESSING THE CHALLENGES
HARNESS SMART TECHNOLOGY
To enhance efficiency and improve risk outcomes, invest wisely
in the quality of data and smart technologies as well as the
platforms to support big data and analytics.
BE A SMART TECHNOLOGIST
Smart technologists have high proficiency in at least one of
these technology: RPA, data analytics or cloud.
• Their adoption is more
advanced than that of their
peers and they have low
reliance on legacy tools
• Ahead of their peers in
identifying, quantifying,
monitoring and mitigating
risk
• More likely to display high
performance across the
majority of risk key
performance indicators
• Better at managing cyber
risk: 90% have a cyber risk
management function that is
able to effectively support the
IT function, by accurately
reporting cyber risks
to the board

Over the years,
organizations have
responded to the
changing demand for
specialized risk skills.
THE
EVOLUTION
OF RISK
TALENT
2009 TO 2015
Executive Summary.

RISK TALENT
Most financial institutions
have invested significantly
in risk capabilities and
headcount. Yet, despite this
investment, talent shortages
remain an issue.
Challenges include:
66% 10%
66% of respondents say
that a shortage of core
risk management talent
and skills impedes
effectiveness
Only 10% of respondents
say that their risk team has
internal resources to carry
out the functions they are
asked to perform, even in
specialized areas such as
modeling or emerging risks
Few risk functions are able
to strike the right balance
between experience and
wisdom, and a deep
understanding of digital
and technology trends
CORE SKILLS
SHORTAGE
LACK OF
RESOURCES EVEN IN
SPECIALIZED AREAS
LACK OF BALANCE
BETWEEN OLD AND
NEW GENERATION OF
REQUIRED CAPABILITIES

ADDRESSING THE CHALLENGE
REDEFINE RISK TALENT
Create a broader base of risk capabilities that incorporates
strong functional experience as well as the skills needed to
exploit new tools, business models and technologies.
• Responds to cost pressures
by aligning management
and employee skills with
the changing needs of the
risk function:
Almost 60% of this group say
this compared with 45% of the
rest of the sample
• Less likely to experience
a shortage of core risk
management capabilities:
57% of this group say this
compared to 70% of sample
• Are effective in their
commercial awareness and
their ability to apply
analytics to risk
management:
90% of this group say this
compared to 77% of sample
• Moving now on the
technology agenda:
Strengthening their
understanding of emerging
risks is a top priority
BE A MULTI-DISCIPLINARIAN
There are a group of companies from our 2017 study, that
demonstrate the strongest ability to bring all three
dimensions of the risk capabilities into place.

DOWNLOAD OUR
EXECUTIVE SUMMARY NOW
Things are only going to get faster, more
connected and more complex. For the risk
function to stay ahead, it requires a continuous
evolution on each of the dimensions explored and
balanced investing across all three areas so that
the function can carry out its work holistically.
RISK FUNCTION’S
FUTURE SUCCESS
Or contact:
Steve Culp (Financial Services): steven.r.culp@accenture.com
Philippe Guyonnet (Banking): philippe.guyonnet@accenture.com
Adam Markson (Capital Markets): adam.markson@accenture.com
Eric Jeanne (Insurance): eric.jeanne@accenture.com
To learn more, visit www.accenture.com/RiskStudy2017

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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.
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Copyright © 2017 Accenture. All rights reserved.
FINANCIAL SERVICES RISK
POTENTIAL EXPOSED
ACCENTURE 2017 GLOBAL
RISK MANAGEMENT STUDY

Accenture 2017 Global Risk Study: Financial Services Executive Summary

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Accenture 2017 Global Risk Study: Financial Services Executive Summary