April 2024 saw Citi Group risk management system fails when they made an internal transfer error of $81 trillion. Yes – trillion. The intended transfer? Just $280.

Modern slavery in supply chains is a growing concern for businesses of all sizes. As supply chains become more global and complex, the risk of unknowingly sourcing products or services linked to forced labour increases significantly.

In many organisations strategy and risk management are treated as parallel tracks – developed in isolation, reviewed at different times, and owned by different teams. Strategy is seen as visionary and aspirational, risk management, as protective and reactive. This siloed thinking prevents organisations from making the bold moves necessary for meaningful growth.