It had been two years since the Association for Financial Professionals (AFP) last conducted its risk survey. Then, around the same time that the World Health Organization declared an end to the global health emergency in May 2023, the AFP team reached out to 408 treasury practitioners to determine where their organizations are experiencing the most significant risks and how they are responding to those risks.

The survey's results highlight the areas in which treasury professionals have helped their organizations, as well as the strategies and methods used. The result is the "AFP 2023 Risk Survey: Treasury's Role in Supporting Organizations in an Uncertain Risk Environment." The survey was supported by Marsh McLennan.

Cybersecurity Risks Are the Most Challenging to Manage

On the risk management front, the evolution of technology brings with it a mixed bag of positives and negatives. In the win column, new technologies provide opportunities for risk control through better measurement and management, less imprecision, and increased efficiency. At the same time, emerging technologies serve as a primary driver of risk across organizations.