For many years, our Top Risks survey results have showed that financial services firms were focused almost exclusively on risk management and regulatory compliance matters. This trend began to shift in 2018 and 2019 when, although compliance topics continued to be considered a top risk source, there were similar levels of concern about keeping pace with digital innovations and fending off disruptive competition from “born digital” competitors. Our 2020 results represent another change in emphasis.

This report illustrates the top risks financial services firms should keep in mind throughout 2020, based on the results from Protiviti’s Executive Perspectives on Top Risks Survey.