About this Report
In 2024, credit risk and economic risk are tied as the most pressing risk to the financial system, according to Chief Risk Officers (CROs) in Canada’s financial sector, who were surveyed between December 2023 and January 2024 for GRI’s annual Risk Outlook Survey.
Every year, GRI surveys its member organizations to gauge their perceptions of the risk environment and determine which risks financial institutions, regulators and others in the financial sector see as most challenging. This year’s report flags the top five risks as 1. credit risk and economic risk (tie); 3. cyber risk; 4. geopolitical risk; and 5. technology/innovation risk. Talent risk, which gained prevalence during the pandemic, has dropped out of the top five.