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  "documentTitle": "Risk in review Managing risk from the front line",
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      "text": "The more we can get risk responsibility out into the field—first into management’s hands and then to employees to make sure they’re armed with the right expectations to make the right decisions—the more successful we’ll be.",
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      "text": "In PwC’s recent, 20th Annual Global CEO Survey, respondent chief executives from across industries named uncertain economic growth, overregulation, availability of key skills, geopolitical uncertainty, and speed of technological change as the top threats their businesses face. Add the clear and present danger of cyberattacks, changing customer behaviours, and social instability, and you have a landscape in which the first-line owners of risk must also take the lead in managing that risk.",
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      "text": "For more than a decade, many companies’ risk management efforts functioned primarily as compliance exercises aligned with the requirements of the Sarbanes–Oxley (SOX) and Dodd–Frank acts. Those efforts naturally elevated the positions of chief risk and compliance officers and audit leaders in the overall risk management hierarchy. But after more than nearly 15 years of SOX experience and with the financial crisis of 2007–09 receding further in the rearview mirror, companies are evolving their risk efforts to meet the needs of their current environments.",
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      "text": "Melissa Lea, SAP AG chief global compliance officer, says that at her organisation, that direct connection is paramount. “We’re very first-line heavy. The more we can get risk responsibility out into the field—first into management’s hands and then to employees to make sure they’re armed with the right expectations to make the right decisions—the more successful we’ll be. We try to get people—either on the ground, in-country, or with the best lines of sight into how a particular risk might materialise—to really own that mitigation approach.”",
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