Cybersecurity along with fraud and financial crimes are the top risks facing financial institutions in 2025, according to a recent survey of bank chief risk officers by the Risk Management Association and Oliver Wyman. Asked about the top five risks facing their institutions, 63% of respondents pointed to cyber risk. Other top risks included fraud and financial crime (44%); technology (38%); whole credit risk and third-party risk (both at 32%); issues around operating models, such as attracting talent (28%); and deposit risk and concentration (24%).
The survey also found that the speed of Silicon Valley Bank’s failure continues to weigh heavily on CROs. Nearly all respondents (93%) said the banking industry must address the increased speed of risk. Still, the vast majority (89%) also said they have a clear path forward for doing so, with 40% of respondents investing in early warning indicator programs.
The liquidity crunch that followed SVB’s failure has largely receded, but many survey respondents noted there is a “higher bar” for liquidity risk management among regulators. They also noted heightened regulatory scrutiny across the board, including on governance/oversight, enterprise risk management, credit risk, fair lending and concentration risk.
