Board's Expanding Role in Strategic Risk Oversight

Deloitte (May 13, 2024) "Board's Expanding Role in Strategic Risk Oversight" argues the number and types of risks boards must oversee have grown sharply heading into 2024 and beyond, driven by disruptive changes including AI and cybersecurity, new regulatory requirements, shifting customer preferences, activist investors demanding performance, and elevated geopolitical uncertainty. Collaborating with management to oversee long-term shareholder-value creation remains the top board responsibility, with strategic resiliency as the lever for balancing value creation against value protection. The piece urges boards to verify that the ERM programme connects risk and strategy functions, citing research linking strategically focused ERM to fewer costly missteps, higher strategy success rates and faster recovery. Useful structuring frame for SEA mid-market boards.