In addition to their normal duties, country chairs are responsible for liaising with all external stakeholdersincluding national and local governments, community organizations, and other enterprises. But so do some pharmaceutical, technology, and packaged goods companies. Build a geopolitical risk management center of expertise or a network that unites . Australia. Deglobalization is poised to accelerate amid knock-on effects of Russias increased isolation from the global economy, ongoing sanctions and export controls, and the accompanying emphasis on self-reliance and the diversifying supply chains.. accounting technology, guidance, and expertise, Let us help you solve Meanwhile continuing shortages of raw materials (39%), logistics and warehousing (35%) and components (33%) are all . . Note: Political risk consulting firms specializing in analyzing the business risk presented by the political environment in a region or country--including but not limited to regulatory risk in particular sectors, risks of appropriation or nationalization, and broader geopolitical risks. No matter their starting point, BCG can help. by Theyre the technology companies and oil producers that can tell a political backlash is brewing well before it hits full force and then use their foresight to reposition their businesses ahead of competitors. Related Expertise: | Learn more about Avery Benton's work experience, education, connections & more by visiting their . Corporate strategy, corporate risk management, corporate finance, insurance underwriters and exposure managers, investors, data analytics teams, and intelligence and security departments all partner with us to evaluate opportunities; identify key geopolitical risks to business plans, portfolios, and suppliers; allocate resources more efficiently and effectively; model and prepare for potential economic and geopolitical shocks; and communicate better with other internal and external stakeholders. As a result, the company was able to significantly expand its cloud business and gain advantage over competitors that were slower to act. Get the latest news and intelligence on global issues impacting business, politics, economics, military, security and energy. "speed": 600, Lesley is a seasoned board member and executive with over 25 years of proven expertise in strategic planning, risk management, governance, partnership development, and stakeholder relations in complex situations. Stratfor Worldview is the world's leading geopolitical intelligence platform. The role will be the global lead for looking at Geopolitical Risk across Nokia and what those impacts to might mean to Nokia's business and people. 1. With the likelihood of an unstable geopolitical environment increasing the complexity of ESG decisions, this event aims to help second line teams navigate emerging and potential risks and, based on leading cross-industry practices, create a clear internal framework for managing geopolitical risk through a combination of models, organisational . The companies with the most disciplined approach, however, often use a combination of processes and tools to look at risks during different time frames and with different rates of periodic review. A large organization is likely to have stakeholders with differing cultural reference points and opinions on issues such as human rights and privacy. Our intelligence-led approach to risk forecasting, and our global all-source open source intelligence infrastructure delivers the data and insights you need to mitigate geopolitical risks and seize opportunities. Site by Odgis+Co and ICVM Group. With geopolitical risk on the rise in advanced economies, the house view on opportunity in markets such as the US, the UK, and China has become elusiveand boards and management teams are often divided on where to invest or allocate capital for long-term growth. Our geopolitical risk intelligence solutions provide end-to-end coverage of political, violent, sovereign, banking and investment risk worldwide. Thank you! Economic and Geopolitical scenarios Economic uncertainty (32%) and inflation (26%) are among the leading factors underlying supply chain risks. We help companies anticipate and quantify critical external strategic business risks that might adversely impact their investments, personnel, interests, and assets anywhere in the world. Conduct time-efficient international policy monitoring and updates. In 2020, it will move beyond strategic tech . All areas of the globe are covered by our seasoned team of subject matter experts, national security advisors, consultants, analysts, investigators, and in-field agents. Our Asia-Pacific footprint is now a huge advantage.. In the face of fragmentation and uncertainty, many business leaders are responding by intensifying their focus on resilience. Interviews with Geopolitical Analyst Ian Bremmer. Internationally it poses increasing management challenges, particularly at board level. One test could explore the conditions in which the company may be compelled to ring-fence its IT infrastructure (to protect against cyberattacks or comply with regulatory requirements) or split off its business in a particular region. Geostrategic Business Group | EY - Global Close search Trending Why Chief Marketing Officers should be central to every transformation 31 Jan 2023 Consulting The CEO Imperative: How will CEOs respond to a new recession reality? Whether the billions of dollars in losses linked to Russias invasion of Ukraine and subsequent Western sanctions have prompted big banks to increase their geopolitical expertise remains unclear. Start with the board Many company boards already deliberate geopolitical risks to one degree or another. Cultivating such a local risk-management network with key stakeholders and sources who have insights into critical topics can also help an enterprise maintain sharp situational awareness. Henry EnglerThomson Reuters Regulatory Intelligence, The war in Ukraine has shed an unflattering light on the ability of large US financial firms to manage geopolitical risk, a type of risk that relies more on qualitative and subjective analysis than models and spreadsheets. SVA. Political risk consulting firms. Supporting corporate third-party management programs to drive risk-based due diligence decisions. 2023 Geopolitical Outlook . However, it added, "only a subset of chief risk officers (CROs) recognize this." This sentiment largely continued in the second . Many governments have introduced laws requiring companies to take actions to mitigate the risk of adverse human rights impacts. Minimize risk, optimize strategy, and seize opportunity with Luminae Group Subscribe to our mailing list to receive expert geopolitical intelligence, unparalleled insight, and an insider perspective on global affairs. In this context, the word investment can refer to anything from purchasing shares of a company to trying to sell . Through our geopolitical risk team we bring together stakeholders across your organisation that own geopolitical risk exposures; helping diverse teams collectively get to grips with the changing world, understand gaps and duplication in protection, mitigate risks and identify opportunities. It could also apply the system to the entities with which it does business, separating those with which a local office can work without needing additional approval from those that need risk approval and those with which an office should never work with. Instead, they depend on personnel from government relations, strategy, and other business functions to identify and mitigate risks, with one function coordinating and consolidating input. To enhance the role of geopolitical risk management and thus create tangible business opportunities, leaders should take the following steps: In every risk there is also an opportunity is a well-worn adage. Work with us to identify the organizations and individuals with influence and decision-making power critical to your business success, Integrity Due Diligence & Integrity Consulting Norwegian Risk Consulting International - NRCI - is a geopolitical risk consultancy founded in 2010. 4 Understand how geopolitical trends impact your business We help organisations understand the complex issues defining international business, geopolitics and cross-border regulation so they can better anticipate change, identify opportunities, manage risks and ultimately shape the future of their organisation. Citi. Regulatory Burdens Country risk mapping. This research seeks to understand the sources and consequences of geopolitical risks. Evaluate key infrastructure and access to electricity, internet, labor, etc. According to our research, the consistent winners apply a highly developed approach to geopolitical risk management that emphasizes opportunity rather than just mitigation, involves the entire organization, and leverages sophisticated and robust analytical processes. Indeed, in its most recent geopolitical risk dashboard, the BlackRock Investment Institute put a technological decoupling between China and the United States as the third highest risk, with a widening of the conflict in Ukraine between NATO and Russia and major cyber-attacks causing significant damage to infrastructure and financial markets seen as the top two risks. Not surprisingly, several oil and gas companieswhich often make large, long-term investments in high-risk countries amid frequently shifting environmental-protection policiesfall in this category. Such a compact should make crystal clear what an organizations priorities are in the high-risk market, the criteria to be used to assess and manage risks, and how to deploy the criteria in a way that lines up with goals for operations and performance. Any discussion of such potentially existential issues must start at the top. There are no reliable historical streams of data that one can easily plug into a model. 4. An escalation of geopolitical events can lead to outright wars . Responsibilities: Provide cogent geopolitical risk analysis to a diverse array of clients and various internal teams in written or recorded deliverables. Goldman Sachs, meanwhile, which in February disclosed that its Russian exposure was $650 million, said it had suffered a net loss of about $300 million on investments in Russia and Ukraine. Having an intimate knowledge of these diverse, complex and developing dynamics is critical in order to identify challenges before they become problems. 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