And you thought new regulations, glacial economic growth, and Chinese currency fluctuations were alarming … ###
I’m happy Big Fat Finance, and not at all surprised, to report that risk management will likely feature prominently – even more so than it does now – in the CFO’s 2020 tool kit. Why? Because current economic and marketplace risks will require companies to further strengthen existing risk management capabilities. So, too, will some environmental and man-made risks.
Answering that question is by turns difficult, interesting, and a little alarming. I’ve been working on a research project for CMA Canada that essentially seeks to answer the question posed above. Doing so requires an understanding of the most powerful forces likely to affect companies in the coming decade, the ensuing challenges those forces will pose, and, finally, the implications of these organizational challenges on corporate finance executives.
What will the role of the CFO and other corporate finance executives look like in 2020?
In the course of my research, I came across the following odds (featured in a recent issue of Scientific American):
• A flu pandemic on par with the Black Death strikes: one in two in the next 30 years;
• Global warming raises sea levels by 12 meters and displaces millions of people: one in two in the next 200 years;
• A massive solar storm short-circuits global power grids and communications networks: one in 20 in the next 15 years; and
• A one-off nuclear attack in an urban area: one in two, or better, in the next 15 years
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