In the face of an increasingly complex and uncertain commercial, regulatory and geopolitical environment, financial services organisations are looking to develop a more proactive, systematic and integrated approach to governance and risk management.
Effective enterprise-wide risk management underpins sound governance and related compliance requirements by providing a comprehensive framework of internal controls and reporting procedures. The enterprise-wide approach focuses both on familiar financial risks and harder-to-measure – though equally important – strategic, operational and reputational risks. The result: enhanced stakeholder confidence and sustainable value creation.
Governance: From compliance to strategic advantage, a study carried out by PricewaterhouseCoopers in partnership with the Economist Intelligence Unit, found that the adequacy of internal controls is now the most critical priority for boards of Financial Services organizations. However, PwC's 8th Annual Global CEO Survey indicated that only 25 percent of chief executives believe they were managing governance, risk management and compliance effectively.
How PwC can help you
PricewaterhouseCoopers has a network of local, regional and global specialists that can provide solutions to all matters related to risk management including policy and strategy, risk-based regulation, benchmarking, systems selection and development, enterprise-wide risk management and integrated governance, compliance and risk management solutions.
