Risk managers in Europe face a backdrop that is more defined by crisis than ever. The ongoing conflict in Ukraine, shifting geopolitical alliances, and mounting trade tensions with the US are piling the pressure on risk management teams in the region. The regulatory landscape also remains unrelenting. Some 37% of executives said regulation was a top-three risk, making it the region’s top risk for a second consecutive year, followed by supply chains (30%) and cyberattacks and geopolitics (both 27%).
Companies feel that regulation is a burden because the regulators are less predictable. In Europe, companies have to invest a lot in compliance and then laws and regulations change overnight.
Emanuel Van ZandvoortPartner, Internal Audit, Risk & Compliance at BDO Netherlands
