Emerging Risk
What is Emerging Risk?
A new or evolving risk that may not be fully understood but has the potential to significantly impact an organization's objectives in the future.
Terms that appear alongside emerging risk
Each of these is named in at least one of the same controls as emerging risk. The number is how many controls name both.
- audit 5 shared controls
- risk identification 4 shared controls
- risk monitoring 3 shared controls
- risk assessment 3 shared controls
- benchmarking 3 shared controls
- governance 3 shared controls
- iso 31000 3 shared controls
- risk register 3 shared controls
Frameworks that govern emerging risk
What the standards actually require on emerging risk
Requirements naming emerging risk across 6 standards, quoted from the control text.
Risk Reporting + KRIs + Performance + Horizon Scanning translate the risk management process into actionable management information.
IRM-Reporting-KRIs-Performance-HorizonScanning-Dashboard-Heatmap-RiskRegister-EmergingRisk · IRM Risk Reporting + Key Risk Indicators (KRIs) + Performance Measurement + Horizon Scanning + Dashboard + Heat Map + Risk Register + Emerging Risk Identification →Operate independent assurance + internal audit + external examination per OSFI B-13 Domain 6. Independent Assurance and Internal Audit must (a) maintain Internal Audit function independence per B-13 + OSFI Corporate Governance Guideline + (b) provide assurance...
OSFIB13-6 · Independent Assurance, Internal Audit, External Examination →Senior management and the board must receive sanctions training appropriate to their oversight role, including emerging risks, recent enforcement actions, and program performance.
OFAC-SCP-5.2 · Senior Management and Board Training →A bank should be able to capture and aggregate all material risk data across the banking group. Data should be available by business line, legal entity, asset type, industry, region and other groupings, as relevant for the risk in question, that permit identif...
BCBS239-P4 · Completeness →Sapin II Pillar 6 - Anti-Corruption Training (Programmes de formation). REQUIREMENTS: (a) GENERAL AWARENESS training for ALL employees (typically online + 30-60 minutes + annual refresh);
Sapin2-Pillar6-Training · Pillar 6 - Anti-Corruption Training Program →HKMA C-RAF 2024-2025 pipeline + emerging risks + sectoral cybersecurity evolution. KEY 2024-2025 INITIATIVES: (1) AI + MACHINE LEARNING + GENERATIVE AI CYBER GOVERNANCE - AIs deploying AI/ML for fraud detection + AML + customer service + lending + risk managem...
HKMA-CRAF-2024-2025-AI-Quantum-Cloud-Ransomware-DORA · HKMA C-RAF 2024-2025 Pipeline - AI, Quantum-Resistant Cryptography, Cloud Security, Ransomware, EU DORA Coordination →Questions people ask about emerging risk
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See how Emerging Risk applies across compliance frameworks
Our platform maps 686 frameworks with 311K cross-framework control mappings. Explore how this concept is addressed across standards.