There is now a broad consensus that the credit crisis was sparked by a lack of appreciation of the risks being taken within the financial sector — and the wide-ranging impact they could have. Scarred by this experience, many businesses are upping their game in all aspects of risk management.
One question which continues to vex them however is how to spot the next big emerging risk; the risk which could do for one sector what sub-prime did for the banks. The answer to that question is out there — but does not come in one neatly packaged solution as John Farrell of KPMG’s Advisory practice explains.
After the traumatic events of recent months, it should be no surprise that a lot of time and effort is being expended on ensuring that we avoid a repeat of the sub-prime crisis.
Many businesses around the world are currently considering how they can improve their capabilities for identifying that next big emerging risk — long before it has time to manifest itself into something truly damaging and destructive.
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