Executive summary 3

1 Why risk management must evolve 4

  1.1 Traditional risk frameworks may not work well anymore 4

  1.2 Risks are increasingly interconnected 5

  1.3 Preparedness, not prediction, needs to be core in future risk management 7

  1.4 Evolution beyond shared governance, risk and compliance roots 8

2 The evolving role of the CRO 9

  2.1 Shape strategy instead of reviewing it 10

  2.2 Generate risk intelligence and enable business velocity 11

  2.3 Validate assumptions rather than only scoring risks 11

  2.4 Build capabilities to adapt to, not just mitigate, disruption 12

  2.5 Artificial intelligence to complement human intelligence, not substitute it 12

  2.6 Business managers, not just risk managers 13

3 Building the risk-ready organization 14

  3.1 Continuous sensing and early warning 14

  3.2 Scenario planning and digital twins 15

  3.3 Recognizing and integrating regional nuances 16

  3.4 Balancing between AI and human intelligence 17

Conclusion: En route to 2035 – strategic considerations 20

Contributors 21

Endnotes 22