Global Deloitte Risk Survey 2022

How can you ensure the right processes and channels are established to ensure technology is safe, secure and sustainable?

Priority 1

Get the right information

Although business leaders are confident in their ability to deliver on their responsibilities in relation to digital risk, they report business maturity against a spectrum of core digital risk capabilities as low.

• Are you getting the right assurance that your digital transformation is happening as planned and with the desired outcomes?
• What do changes in the regulatory environment mean for your business and its digital footprint globally?
• Do you have access to the right information at the right time? How efficient are your reporting and warning systems?

Priority 2

Enable innovation with control

Patterns of ownership of digital risk remain hugely varied. How can you encourage collaboration between leadership teams and ensure all digital decision making takes risk into consideration?

• Can you challenge the traditional hierarchy and enable resourcing models to support digital risk ownership? Are your risk teams embedded in the business to enable real-time decision making without delaying innovation, or are they sat on the outside? Do teams have the right level of risk and digital skills to deliver?
• Are you confident that digital innovation is happening within a risk appetite and aligned to business strategy/vision?
• What are you doing internally to lead change and help embrace risk?

Priority 3

Regaining confidence when digital transformation doesn’t go to plan

72% of consumers have experienced an adverse digital incident in the last year. Incidents do occur, but long-term consideration of people and process will help drive innovation built around customer-centricity and enhance competitive-edge.

• What resources have you put behind this to develop long-term mitigation plans?
• What role do you need to play and when? How can you prepare for digital incidents?

Priority 4

Help consumers feel in control

Over 50% of consumers don’t think digital interactions with businesses are ethical. Digital can’t happen in isolation - how can you build consumer confidence and help consumers feel in control?

• What role are you playing externally to champion digital transformation aligned to your vision / principles and provide reassurance across new customer journeys?
• How can you help consumers and customers gain the confidence that your business is putting their interests first and is acting in a digitally responsible way?

How can you ensure all levels and lines of the business have confidence that technology use and deployment is safe, secure and sustainable?

Priority 1

Enable users to retain ultimate decision-making power

The more a user has the authority to override or cancel a digital process, the more confident they are because they retain control. This doesn’t just have applications for consumer experience, but also internal business processes. As new technologies are rolled out, consider:

• Are you able to effectively collaborate across lines of defence to create guardrails that enable safe and secure digital transformation?
• Where and how are the appropriate overrides applied to enable final decision-making power, and who has the power action them?

Priority 2

Integrate a new and forward-looking risk methodology

72% of consumers have experienced an adverse digital incident in the last year. Incidents do occur, but long-term consideration of people and process will help drive innovation built around customer-centricity, and enhance competitive-edge.

• Are you clear on the risk appetite and metrics applicable to the technology used across your business?
• Do you have the right processes / guardrails in place to perform your role?
• How can you ensure risk decisions are integrated throughout digital development and enable, rather than delay, innovation?

Priority 3

Safely working together with digital technology

53% of consumers feel they have become more at risk from digital technologies over the last year, and only 40% of consumers currently feel adequately informed by organisations about their digital policies. As business demands accelerate, it will become even more important to have the right people and processes in place to enable safe, secure and sustainable technology innovation.

• What is your IT talent strategy or resourcing model?
• Can you combat the traditional hierarchy approach and ensure the right people are in the room?
• How can you help ensure your team keep up to date with security requirements, communicate accreditations and ensure accountability?

How can you enable safe, secure and sustainable digital innovation, and safeguard against digital incidents?

Priority 1

Building confidence through regulation and transparency

55% of consumers say increased regulation will improve their confidence in digital innovation, while only 40% feel adequately informed about digital practices.

• What do changes in the regulatory environment mean for your business and its digital footprint globally?
• Who do you need to align with to ensure the business adapts appropriately, and changes don’t restrict operation or innovation?

Priority 2

Regaining confidence when digital transformation doesn’t go to plan

72% of consumers have experienced an adverse digital incident in the last year. Incidents do occur, but long-term consideration of people and process will help drive innovation built around customer-centricity and enhance competitive-edge.

• Have you planned for the worst-case digital incidents?
• What resources have you put behind this to develop long-term mitigation plans?
• How efficient are your reporting and warning systems, and do business decision makers have access to the right information at the right time?
• How are you providing reassurance to those less familiar with technology and translating and identifying the most important information?

How can you ensure risk management enables safe, secure and sustainable digital innovation, and isn’t seen as a blocker to progress?

Priority 1

Working together with digital technology

Less than 5% of organisations cite risk functions as the owner of digital risk, but all business leaders must play a wider role to ensure business behaviours are in line with the risk appetite of and regulations applicable to the business.

• How can you ensure risk decisions are integrated throughout digital development and enable, rather than delay, innovation?
• How do you ensure the right guardrails are established and embraced by your business?
• How can you build a resourcing strategy that embeds digitally native risk talent within the business, to enable seamless and agile decision making in line with risk appetite?

Priority 2

Building digital confidence with regulation and transparency

55% of consumers say increased regulation will improve their confidence in digital technologies, but there is also a need to build internal reassurance as regulatory requirements change.

• What do changes in the regulatory environment mean for your business and its digital footprint globally?
• Who do you need to align with to ensure the business adapts appropriately, and changes don’t restrict operation or innovation?
• How efficient are your reporting and warning systems, and do business decision makers have access to the right information at the right time?
• How are you providing reassurance to those less familiar with technology and translating and identifying the most important information?

How can you ensure risk management enables safe, secure and sustainable digital innovation, and isn’t seen as a blocker to progress?

Priority 1

Working together with digital technology

Less than 5% of organisations cite risk functions as the owner of digital risk, but all business leaders must play a wider role to ensure business behaviours are in line with the risk appetite of and regulations applicable to the business.

• How can you ensure risk decisions are integrated throughout digital development and enable, rather than delay, innovation?
• How do you ensure the right guardrails are established and embraced by your business?
• How can you build a resourcing strategy that embeds digitally native risk talent within the business, to enable seamless and agile decision making in line with risk appetite?

Priority 2

Building digital confidence with regulation and transparency

55% of consumers say increased regulation will improve their confidence in digital technologies, but there is also a need to build internal reassurance as regulatory requirements change.

• What do changes in the regulatory environment mean for your business and its digital footprint globally?
• Who do you need to align with to ensure the business adapts appropriately, and changes don’t restrict operation or innovation?
• How efficient are your reporting and warning systems, and do business decision makers have access to the right information at the right time?
• How are you providing reassurance to those less familiar with technology and translating and identifying the most important information?

How can you ensure risk management enables safe, secure and sustainable digital innovation, and isn’t seen as a blocker to progress?

Priority 1

Working together with digital technology

Less than 5% of organisations cite risk functions as the owner of digital risk, but all business leaders must play a wider role to ensure business behaviours are in line with the risk appetite of and regulations applicable to the business.

• How can you ensure risk decisions are integrated throughout digital development and enable, rather than delay, innovation?
• How do you ensure the right guardrails are established and embraced by your business?
• How can you build a resourcing strategy that embeds digitally native risk talent within the business, to enable seamless and agile decision making in line with risk appetite?

Priority 2

Building digital confidence with regulation and transparency

55% of consumers say increased regulation will improve their confidence in digital technologies, but there is also a need to build internal reassurance as regulatory requirements change.

• What do changes in the regulatory environment mean for your business and its digital footprint globally?
• Who do you need to align with to ensure the business adapts appropriately, and changes don’t restrict operation or innovation?
• How efficient are your reporting and warning systems, and do business decision makers have access to the right information at the right time?
• How are you providing reassurance to those less familiar with technology and translating and identifying the most important information?