We asked FutureRiskMinds about their attitudes towards the sector. Here's what they had to say.
Although risks that have been heightened by Covid-19 lead the biggest challenges in risk management, when asked what is the emerging risk to watch, 38% of respondents indicated this would be climate change risk. This was the most prominent emerging risk suggested, with the risks surrounding digital transformation (e.g. cyber risk, privacy breaches, use of AI) falling behind.
Overall concern for climate change is high, though this may not directly be in the context of risk. Therefore, while climate change comes quite low as a current risk (only 14% stating it as the biggest challenge), it’s cited regularly as an emerging risk.
There is a near universal consensus that firms need to take strong action around climate change.
Diversity and inclusion is an important factor for 87% of people when choosing where to work.
Overall, respondents have mixed views about how well banks embrace digital technologies. Those who believe digital transformation to be the biggest challenge are slightly more critical about how well banking is embracing digital technologies.
Respondents are generally fairly positive about their current leadership team, with 88% considering them either fairly or very effective.