Chief Risk Officer Survey: TMT perspectives

KPMG conducted the Chief Risk Officer Survey to better understand the current state of enterprise risk management at TMT corporations, as well as the outlook for the future of enterprise risk functions. This report highlights their top priorities, challenges, and intentions. Their responses, presented with comparisons to other industries, indicate which areas of risk these leaders perceive as most vital to improving risk management practices across TMT businesses.

We found that TMT risk leaders are most challenged by cybersecurity threats and data breaches, and complex regulatory changes and compliance obstacles. Dealing with ongoing financial constraints is also a major concern. To work through their top issues, risk executives in TMT tell us they have their sights set on driving optimization through use of high-powered, integrated risk management systems as well as other modern tools, such as artificial intelligence (AI), machine learning (ML), and predictive modeling. This will allow them to get ahead—and stay ahead—of various compliance regulations. CROs in TMT also indicate they intend to focus on policy management, controls, and employee accountability, as well as increase training for employees, and perhaps consider outsourcing certain tasks.

In this report, we provide actionable recommendations TMT corporations can use to strengthen their risk management practices, both within their functions and across their organizations. This guidance is aligned to key data insights from our survey.