Topic Descriptions 2022

PwC Topics - Concurrent 1B, 2B - Friday

Topic 1- Building Resiliency

The world is different than it was two years ago and so is the risk environment in which organizations and government entities operate. Change is fast and disruptive. The pandemic caused disturbance in the labor market and the supply chain. The current volatile geopolitical environment is further exacerbating supply constraints, heightening cyber risks, introducing rapidly evolving sanctions and putting safety and humanity at the forefront of all decisions.

In this turbulent environment, many executives find the need to revise and adapt their strategies and operating models at a rapid pace. They know that capturing opportunity and avoiding disruption requires speed. While managing disruptions, organizations are simultaneously dealing with internal digital transformation challenges, and how to bring along internal stakeholders as they automate business processes and drive digital into everything they do.

Our 2022 Global Risk Survey highlights five key actions that organizations should consider to drive their risk management capabilities forward and build resiliency in a world of uncertainty.

1. Engage early and get risk insights at the point of decision
2. Take a panoramic view of risk
3. Set and employ risk appetite to take advantage of upside of risk
4. Enable risk-based decision making through systems and processes
5. Double down efforts on top risks.

Topic 2- Building Trust

Organizations face an era like no other before in which navigating uncertainty, building resilience and leading with purpose will be key to success. As they grapple with growing competition for capital, emerging geopolitical risks, an intensifying war for talent and rising expectations to deliver a sustainable impact to all of their stakeholders, trust has become a key lever of value creation.  While Canadian organizations are becoming more aware of the importance of trust, they’re at different stages of the trust-building journey. Some are trying to understand what trust means for them, while others are grappling with diverging and sometimes conflicting stakeholder needs and expectations for what they should be focusing on.

At PwC Canada, we are on our own journey and taking action to be accountable for living up to our own commitments and being transparent about where we are falling short.  We will share our Trust Roadmap in hopes of inspiring others to take the journey themselves.  Sharing experiences will serve as a challenge to others to apply this process to their own organizations.  Our journey is built on 3 key steps:

1. Understand trust in relation to your organization
2. Gathering and analyzing data
3. Identifying tools, measurement and accountability framework

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