Risk Innovation

Explore our insights on how organizations can re-think risk and drive risk mastery through innovative processes and technologies.

Fueling innovation to help you master risk

We believe risk is there to be mastered, not feared. That’s why PwC created the Risk Assurance Center of Excellence (CoE). It’s our innovation hub for risk, compliance, and internal audit innovation that is purpose-built to:

  • Advance deep expertise in data science and intelligent process automation, as well as blockchain and other emerging technologies
  • Commercialize new solutions that combine our client teams’ innovative ideas with advanced technology, highly specialized experience, leading practices, and targeted investments
  • Invest in risk innovation targeted partnerships, including the Risk and Regulatory Services Innovation Center at Carnegie Mellon University, sponsored by PwC, where we explore the complex relationship between people, trust, and the wider world.

The Risk Assurance CoE is designed to create breakthroughs in the risk application of emerging capabilities—and help our clients master risk at speed and scale.

2018 Global Risk, Internal Audit and Compliance Survey

PwC surveyed over 2,500 professionals in 30 industries and 93 countries around the globe. The studies address how executives are responding to risks arising from innovation and new technologies, and how C-Suite functions are leveraging innovative solutions to proactively manage risk to gain a competitive advantage. From one survey we present three different studies, our annual State of the Internal Audit Profession, Risk in Review and State of Compliance. Read on to learn more and visit the publication pages in March, April, and May respectively for a deeper look at the findings.

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Innovation: The big new risk hitting the boardroom

Are companies re-thinking how to report to the board on risk metrics and culture and should they be? How is board accountability for such risks evolving? PwC leaders tackle these questions and more in an interview with Bob Herz, board director at Fannie Mae, Morgan Stanley, Paxos and Workiva.

Risk in Review Study

Innovation is up as new ways of working and living take hold. Top initiatives cluster around new technologies. Organizations are implementing new technologies to improve existing products, services, and experiences or to create new ones altogether. And the innovative activity cited third-most by respondents in our annual Risk in Review survey is ‘changing our talent model’, suggesting that businesses are finally prioritizing how employees adjust to the digital world.

But innovation brings increased risk. How are risk leaders responding? What should risk professionals change? How can risk management underpin growth? Learn more in our 2018 Risk in Review Study.

Moving at the speed of innovation
2018 State of the Internal Audit Profession Study

As the pace of innovation continues to accelerate, Internal Auditors face the growing challenge of helping their organizations ensure effective processes and controls while still helping to drive growth for their businesses. PwC's 2018 State of the Internal Audit Profession study explores how more advanced Internal Audit functions are creating departments with a cohesive technology and talent strategy. 

Advancing the Internal Audit technology journey

Internal audit functions that are most advanced in their technology journeys are creating departments where technology-enabled talent is the norm.

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Driving Internal Audit value through technology

Evolvers contribute significant value to the organization compared to other less technology focused functions.

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The accelerated technology adoption timeline

The time from when a tool has gone from revolutionary to the time when it has become foundational is shrinking; and the rate of new-tool introduction is accelerating.

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Embracing the impact of risk

Internal Audit functions must not only fully understand innovation’s impact on their organizations’ risk profiles but also fully embrace that impact themselves.

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2018 State of Compliance Study

The business risk landscape continues to evolve and has challenged the compliance and ethics efforts of organizations worldwide.

Leading compliance and ethics organizations are prioritizing cultural impact and embracing technology to increase their effectiveness. Leaders have demonstrated a greater likelihood to:

  • Invest in tech-enabled infrastructure to support a modern, data-driven compliance function 
  • Increase compliance-monitoring effectiveness through analytics and use of technology
  • Streamline policy management to increase responsiveness and boost policy and procedure effectiveness
  • Take advantage of information and technology to provide targeted, engaging, and up-to-date compliance training

Is your program keeping up with the changing landscape?

Investing in research to develop next-generation solutions

A year has passed since the doors opened on the Carnegie Mellon University Risk and Regulatory Services Innovation Center sponsored by PwC with the goal of encouraging students to develop smart, tech-driven solutions to address today’s business challenges. Through research, we are helping to create real progress in the spaces of regulatory technology (RegTech), the Internet of Things (IoT), blockchain, and Safe Neighborhoods. Read more about the progress we’ve made and what’s still to come.

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About 

The Carnegie Mellon University Risk and Regulatory Services Innovation Center sponsored by PwC advances how businesses and organizations use technology to solve organization-wide issues and address compliance requirements. The Center supports education and research in critical areas such as information privacy and security, audit innovation, and data analytics to address risk, regulatory and compliance challenges. 

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Contact us

Jason Pett

US Risk Assurance Leader, PwC US

Tel: +1 (410) 659 3380

Scott Greenfield

Digital Risk Solutions Leader, PwC US

Tel: +1 (631) 804 4523

Mike Maali

Internal Audit, Compliance & Risk Management Solutions Leader, PwC US

Tel: +1 (312) 298 2462

John Monaco

Risk Assurance Marketing Leader, PwC US

Tel: +1 (313) 394 3735

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