Fintech PR
Economy, Inflation Outrank Talent and Technology as Primary Risk for Global Business Leaders Next Year, Protiviti-NC State University Survey Finds
Disruptive market and geopolitical risks are testing business agility and resilience
MENLO PARK, Calif., Dec. 7, 2023 /PRNewswire/ — Economic pressures and persistent inflation have unseated the war for talent as the top near-term risk facing business leaders around the world, according to a new survey from Protiviti and NC State University’s ERM Initiative. The survey measures the most pressing business risks over the next year as well as the next decade. Beyond the economy and talent market, business leaders are also increasingly concerned about cyber threats in both the near and long-term, with this risk ranking as the top concern of respondents over the next decade.
The 12th annual survey, “Executive Perspectives on Top Risks for 2024 and a Decade Later,” was conducted by global consulting firm Protiviti and the NC State University Poole College of Management’s Enterprise Risk Management (ERM) Initiative. The study surveyed more than 1,100 board members and C-suite executives from organizations worldwide in a variety of industries, asking them to rate 36 macroeconomic, strategic and operational risks on a sliding 1-10 scale across one-year (2024) and one-decade (2034) time horizons.
The Top Risks for 2024
There was significant turnover in the top risks over the coming year, with six falling out of this year’s top ten list for 2024 versus last year, including the top near-term risk. Economic conditions and inflationary pressures emerged as the top near-term risk for 2024. Continuing a trend highlighted by the last two years’ surveys, finding and retaining talent while managing culture and workplace evolution remained a major concern. Of the 36 macroeconomic, strategic and operational risks assessed in the survey, the top five risks identified for 2024 are:
- Economic conditions, including inflationary pressures
- Ability to attract, develop and retain top talent, manage shifts in labor expectations, and address succession challenges
- Cyber threats
- Third-party risks
- Heightened regulatory changes and scrutiny
The Top Risks for 2034
Survey respondents also rated the expected impact of the same 36 risks for a decade out, into 2034, assessing how the risk landscape might shift over the coming decade. The top five risks identified for 2034 are:
- Cyber threats
- Ability to attract, develop and retain top talent, manage shifts in labor expectations, and address succession challenges
- Adoption of digital technologies requiring new skills in short supply
- Rapid speed of disruptive innovations enabled by new and emerging technologies and/or other market forces
- Heightened regulatory changes and scrutiny
“The economy, inflation and cybersecurity clearly loom large on the executive risk agenda, but the best leaders realize that all these risks are intertwined and need to be addressed as a whole, not in parts,” said Matt Moore, global leader, Risk and Compliance, at Protiviti. “C-suites and boards need to be nimble to address concerns on a variety of strategic and operational fronts and keep pace with the speed of change. Leaders are expected to manage multiple external risks effectively without disruptions to operations, productivity or profitability.”
Although not recorded as a top risk, geopolitical events had a significant ripple effect across the risk landscape. Before the events that took place in the Middle East on October 7, 2023, the survey found that no risk issues were rated at the “Significant Impact” level for 2024, but in the responses gathered following the attacks, many risks increased and four risk issues were rated at the “Significant Impact” level.
“It is still an open question of whether or not recent economic developments and central bank policies will lead to a soft landing or a recession that would force organizations to make dramatic changes,” said Carol Beaumier, a senior managing director in Protiviti’s Risk and Compliance solution and leader of the firm’s global thought leadership program. “Alongside this uncertain economic picture has come regulatory change in wide-ranging and pervasive areas, meaning that business leaders need to plan for a range of outcomes as to how these changes will affect their operations.”
Looking out a decade, cybersecurity is the most pressing risk issue, with the risk rating for cyber threats increasing by more than 11% over last year’s survey – by far the largest risk rating increase noted in the survey’s history. Dr. Mark Beasley, professor of Enterprise Risk Management, director of NC State’s ERM Initiative and co-author of the report, said, “While the economy is the top-ranked risk for the coming year, cyber threats jumped to the top of the list when leaders assessed both near- and long-term outlooks, after not being a top-five risk at all last year. This jump reflects the growing recognition of the complex cyber risk landscape that is impacted by the exponential curve of technological advances and how seriously leaders are taking these threats.”
“Over the next decade, technologies such as artificial intelligence, cloud, and the anticipated emergence of quantum computing will change how organizations secure their data, raising significant security-related questions,” said Sameer Ansari, Protiviti global Security & Privacy lead. “To adapt quickly to new technologies, many organizations are increasing reliance on outsourcing and co-sourcing arrangements to achieve operational and go-to-market objectives. Additional risks arise as organizations must ensure their third-party partners, are complying with current laws and regulations to ensure their data and their customers’ data is secure.”
How Companies Can Take Action
No matter the time horizon, this year’s survey results highlight important steps executives should take to protect their companies against risk and maximize their chances of future success. The report from Protiviti and NC State’s ERM Initiative outlines the next steps that executives should take to address key areas of concern, including:
- Navigating an uncertain economic environment
- The cyber issues executives should be thinking about
- Forging ahead with artificial intelligence capabilities
- Embracing new talent strategies
- Understanding and managing the geopolitical risk landscape
Resources Available
The “Executive Perspectives on Top Risks for 2024 and a Decade Later” report from Protiviti and NC State University’s ERM Initiative provides detailed results and analysis broken out by company type, size, industry, geographic region and respondent role. The report, along with a global webinar series, an infographic, and a podcast about the survey results, is available for complimentary download here. Protiviti’s global webinar series kicks off with a one-hour panel discussion hosted by Protiviti’s Matthew Moore and featuring executives from Protiviti, MacroPolicy Perspectives, and Prudential Financial to discuss the implications of the survey’s findings on January 11, 2024 at 11pm ET. Attendance is free with registration here.
About Protiviti
Protiviti (www.protiviti.com) is a global consulting firm that delivers deep expertise, objective insights, a tailored approach and unparalleled collaboration to help leaders confidently face the future. Protiviti and our independent and locally owned Member Firms provide clients with consulting and managed solutions in finance, technology, operations, data, analytics, digital, legal, HR, governance, risk and internal audit through our network of more than 85 offices in over 25 countries.
Named to the 2023 Fortune 100 Best Companies to Work For® list, Protiviti has served more than 80 percent of Fortune 100 and nearly 80 percent of Fortune 500 companies. The firm also works with smaller, growing companies, including those looking to go public, as well as with government agencies. Protiviti is a wholly owned subsidiary of Robert Half Inc. (NYSE: RHI). Founded in 1948, Robert Half is a member of the S&P 500 index.
About North Carolina State University’s Enterprise Risk Management (ERM) Initiative
The Enterprise Risk Management (ERM) Initiative in the Poole College of Management at North Carolina State University provides thought leadership about ERM practices and their integration with strategy and corporate governance. Faculty in the ERM Initiative frequently work with boards of directors and senior management teams helping them link ERM to strategy and governance, host executive workshops and educational training sessions, and issue research and thought papers on practical approaches to implementing more effective risk oversight techniques (www.erm.ncsu.edu).
Protiviti is not licensed or registered as a public accounting firm and does not issue opinions on financial statements or offer attestation services.
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
The winning opportunities are open to both attendees of TOKEN2049 and followers from afar. Through trading and offline events, participants stand to get free tickets, a share of the $80,000 prize pool in airdrops and coupons, and Bybit merchandise.
Event 1: TOKEN2049 Treasure Express
From now to Sep. 26, 2024, Bybit users may register for the event and complete tasks by depositing and trading assets to earn lucky draw tickets. The wheel of fortune will turn to one of the three prizes:
1. A pair of tickets to TOKEN2049;
2. A share of the airdrop prize pool valued at $50,000 featuring the hottest tokens, including DOGS, PEPE, SOL, XRP, TON and USDT; or
3. Up to 50 USDT in spot coupons.
Even more rewards await in referrals and social media giveaways. For details, visit: TOKEN2049 Treasure Express
Event 2: Share and Unlock
From now to Sep. 30, 2024, unleash your social media magic for a chance to win a 10 USDT spot trading coupon. Share a Bybit blog link and your thoughts on Bybit and Web3. Remember to tag @Bybit_Official and use the hashtag #UnlockWeb3Future and submit the form with us here: #UnlockWeb3Future at TOKEN2049 with Bybit
Event 3: Meet us offline at TOKEN2049
Spot our logo at TOKEN2049 and capture a photo at the Bybit booth (M50) to win Bybit merchandise. Remember to share to your social media channels and use the right hashtag. For details, visit: #UnlockWeb3Future at TOKEN2049 with Bybit
An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
[email protected]
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