Risk Benchmarking Report
Overview
The role of bank Chief Risk Officers and their Risk functions are undergoing a period of dramatic transition.
Global climate change, the impact of the COVID-19 pandemic, persistent low interest rate environments and the growing demands of regulators are testing the resilience of banks and setting their risk management in a new direction.
Worldwide, banks are making major changes to their organisations and operating models driven by the pressure to perform and the opportunities provided by new technology. PwC’s Risk management 2025 and beyond – priorities and transformation agenda for the banking industry focuses on the transformation steps being undertaken by banking risk functions over the next five years, as well as the evolving role of the Chief Risk Officer. For the purposes of the study, 80 representatives from 60 international banks (including 17 from Africa) were interviewed and a total of 1,500 data points were evaluated.
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