When California’s Silicon Valley Bank (SVB) collapsed in March (the second-largest bank failure in U.S. history), there were plenty of warning signs. The problem was no one had spotted them. Why?
The reality is the threats organizations face have become increasingly elusive. As businesses grow more complex, extend their global reach, and leverage advanced technologies, traditional risk management tools, models, and methods that once sufficed have become woefully inadequate.
In this report, we delve deeper into the broad and thematic risks facing organizations in banking and financial services, consulting, accounting, staffing, insurance, and legal, among others in the business services industry. We shine a light on the dangers that may lurk within global operations, the vulnerabilities that emerge from adopting new technologies, and the ripple effects of geopolitical tensions. By understanding these risks and the tools available to manage them, organizations can safeguard and ensure their long-term success.