Is your company's risk-management strategy mature enough to meet the market's shifting demands?

PwC's global study of nearly 2,000 risk executives and C-suite leaders across 37 countries and a range of industries finds that the majority agree risks are rising across the board and that their companies are either in the midst of, about to launch, or recently completed a business transformation initiative. Yet only 237 respondents overall indicated that they have a highly mature risk-management function.

Executives admit they are at risk of significant capability gaps—creating blind spots not addressed by traditional risk-management systems and current resources—particularly around data management, business strategy, and technology. More alarming is that the analysis shows that executives may not truly understand how wide these gaps are, and the vulnerabilities they may be exposed to. In the report we pinpoint the key risk areas in most need of improvement and evaluate the steps companies are taking to close the gaps.

The figures show that improving risk management is a corporate priority. But much remains to be done, even for the most advanced companies. We identified and outlined the key imperatives for survey respondents at three levels of risk-management maturity: early-stage organizations, developing organizations, and risk leaders.

PwC's Risk in Review 2014, provides a key to how leading companies are responding to existing and emerging risks in a fast-changing, uncertain environment, while building greater risk resiliency for the future.

Download the full report to learn about the imperatives that PwC feels companies need to address in order to advance to the next stage of risk maturity or remain a leader.