Nearly three-quarters of respondents to our latest annual Political Risk Survey (72%) reported losses driven by geopolitical risk, with some reporting losses in excess of $50 million. These findings suggest more organizations could benefit from the proactive management of geopolitical risk management.
Current geopolitical risk strategy is dominated by government affairs departments where teams may not have the skills necessary to effectively identify and prioritize risks. Businesses today need to mitigate, transfer, avoid or accept geopolitical risks and the scenarios where organizations might pursue gains, highlighting an urgency for risk manager roles.
Below, we delve into five reasons why you, as a risk manager, need a seat at the geopolitical risk strategy table to better protect and grow your organization.
Authors
Enterprise Risk Management Consultancy
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