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Risk Snapshots – Work From Home Survey

As the business world adapts to COVID-19, GARP asked risk managers how they are navigating the challenges of working from home. We surveyed respondents across two key dimensions: enterprise risk and productivity.

GBI_risksnapshots_1.1_shifttoremotework

SHIFT TO
REMOTE WORK

87% of risk professionals are working from home,
compared with 2% prior to COVID-19.

GBI_riskSnapshot_1.2_evaluating

EVALUATING
RISK FUNCTIONS

SINCE COVID-19 STARTED

  • 89% say risk reporting is as good or better
  • 82% say incident reporting is as good or better

 

GBI_RiskSnapshots_1.3_TestingTechnology

TESTING THE
TECHNOLOGY

Risk managers are successfully adapting to a virtual work environment. When rating current work experience compared with pre-pandemic conditions:

ONLY 5% SAY

  • Remote access to key data/systems is worse
  • Management of cybersecurity issues is worse

ONLY 4% SAY

  • Management of business operations is worse
  • Firm communications is worse
GBI_RiskSnapshots_1.4_WorkLifeBalance

THE WORK‐LIFE
BALANCING ACT

  • 6 in 10 respondents are working more hours
  • 44% overall say productivity has gotten worse
    vs. 49% among bank risk professionals
  • 46% overall say work is more stressful
    vs. 51% among bank risk professionals
RiskSnapshots_Asia-01

RISK PROFESSIONALS
IN ASIA ARE NOT AS
UPBEAT ON REMOTE WORK

  • 56% reported worse productivity
    vs. 42% in Europe, 36% in North America
  • 13% said remote access to key data/systems was worse
    vs. 1% in North America, 1% in Europe
  • 11% said firm communications was worse
    vs. 2% in Europe, 2% in North America

The GARP Risk Snapshot “COVID-19 Work From Home Survey” polled 250 risk professionals from North America, Europe and Asia in April 2020.

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