**Adapting to a transformed banking industry**
In July 2024, the Risk Management Association (RMA) surveyed 177 chief risk officers (CROs) from North American banks about their main challenges. They highlighted that the industry has been significantly altered by the 2023 regional bank crisis, leading to stricter regulations.
The latest RMA, ProSight, and Oliver Wyman CRO Outlook Survey indicates that banks are now operating in a different landscape than before the crisis. Risks are evolving more rapidly, regulators have heightened expectations, and consequently, the role of risk management in strategic planning has expanded.
This report examines seven key themes derived from survey findings and interviews with respondents to illustrate how banks are adapting to this new environment while tackling ongoing challenges.
