Technology disruptions to the financial sector have the potential to impact individuals, disrupt economies, and destabilize governments. Digitalization and technological advances are challenging the way financial institutions operate and creating new consumer expectations.

Financial institutions need to change and adapt in response to these expectations with alternative product offerings and services. GRI understands this demand to stay current and is dedicated to empowering our member institutions with the latest information to stay abreast on developing Fintech innovations; gaining insight on their capabilities, understand their risks and identify the opportunities.

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Cyber security practices and insights on latest methods are critical elements that need to be identified, studied and understood. Fraud, money laundering, tax evasion, terrorist financing as well as fraudulent insurance claims are just some of the criminal actions the sector must also be vigilant in opposing.

We expose our members to industry experts and equip them with knowledge to help them mitigate threats, identify consumer trends and capitalize on new opportunities in technology. GRI collaborates with authorities leading the charge in combating these activities to share their expertise with members to aid in developing their response capabilities as well as improving loss rates and operational efficiency.

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Climate change is a critical global concern that presents issues associated with warmer temperatures, increased water scarcity, and more frequent and severe weather events. All these factors can threaten the financial sector and the economic security. The physical risks of climate change present a clear threat to operations, but new investment opportunities and product offerings are also needed to respond to the changing world needs.

GRI is engaged in expanding financial sectors understanding of climate-related risks and specifically in identifying proactive responses.

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Regulatory oversight, compliance demands and ethical standards are all top of mind concern of organization leadership. Failing to keep abreast of the implication and impact of practices has potential to jeopardize earnings and reputation. GRI is committed to working with our members to help provide insights from its research towards improving processes, governance and offering strategy to highlight areas of concern.

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When a large, interconnected organisation fails or has a significant negative “financial event”, it can have a rippling effect in the marketplace; destabilizing economies and causing an entire industry to collapse. We label these incidents as a Systemic Risk.

Many insights from the 2008 financial crisis identified that the consequences of an individual company-level event can be a source of systemic risk and must be examined. This causes the intervention of governments and regulators to prevent and minimize the rippling effect from impacting the economy as a whole. Systemic Risk is a recurrent and emerging risk that GRI continues to investigate and research.

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Macroeconomics looks at the relationship and behaviour of the industries and government as opposed to that of individual companies; the macroeconomic risk is concerned with identifying trends, political influences and market volatility that may predict the impact these may have on financial markets and the economy.

There are a few different types of Macroeconomic Risk that affect the financial sector from economic risks that affect stocks, economic and political risks that affect governments including unemployment, inflation, prices, export/import, and market factors that can influence investment, assets and company evaluations.

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All organizations are faced with risks that have the potential to negatively affect their business. Risk management practice in financial services focuses on identifying, measuring and analyzing risk to minimize negative impact.

GRI assists in first making sure members know what risks exist and promoting the best practices for handling those risks.

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