The Top Five Risks Impacting Canada’s Financial Sector
GRI’s Canadian Financial Services Risk Outlook Survey draws on the views of Chief Risk Officers from across Canada’s financial sector.
The survey results indicate a risk environment characterized by interconnected risks. Respondents expressed greater caution over the short term, with more positive expectations over the five-year horizon. Confidence in organizational resilience remains strong, alongside recognition of external constraints driven by geopolitical and macroeconomic conditions.
Key takeaways from the 2026 survey:
- Short-term caution and stronger medium-term confidence, with expectations improving over the five-year outlook.
- Operational risks with strategic relevance, including technology, cyber, third-party and outsourcing risks.
- High confidence in organizational resilience, alongside lower confidence at the sector level.
- Emphasis on governance and foresight, including scenario planning, stress testing and board engagement.
- Rapid technological change, with innovation advancing alongside evolving oversight frameworks.