The pandemic tested corporations in 2020 like never before, and the fallout of the pandemic has sparked a host of additionally destructive risks: cybersecurity, supply chain, health and safety, financial fraud, and regulatory compliance.
If the experiences of 2020 taught us anything, it’s that risk in the modern world cannot be understood or sufficiently mitigated with a siloed approach. Individual threats, such as regulatory risk and IT security, converge. Lacking a high-level view, it’s difficult to see the web of cause and effect – making it more difficult to anticipate, prepare, or mitigate the biggest risks. 2020 may be over, but the challenges remain in 2021. Compliance and risk management will need a shared umbrella of information and communication to tackle the complex, integrated risks of today’s landscape.