There is an adage that “the only thing that is constant, is change.” This saying couldn’t be more applicable to the regulatory environment. Risks, both positive and negative, are affecting organizational objectives, business models, and operations.
Moreover, new, untraditional competitors, disruptive technologies, and topics, such as data privacy, are raising questions in the minds of stakeholders whether risk is being adequately managed. Constituent concerns are well founded. Risk exposures have received international attention. The resulting reputation damage, litigation, and losses have piled up into the tens of millions, if not more.
These exposures have raised internal questions on the efficacy of risk management curriculums and have raised the eyebrows of regulators who question whether, and how much, to intervene.
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