Alex Duncan, group chief risk officer at Just Group, reviews the key ERM developments of 2022 and his outlook for geopolitical risk in 2023
What was the most positive ERM development of the year?
The success of the Covid vaccination programme in allowing a continued return to a more normal lifestyle.
What was the biggest ERM disappointment of the year?
The increase in the whole risk landscape caused by poor political leadership.
What emerging risks are you most concerned about?
Coincidence, or correlation, of a number of interconnected risks amplifying the negative consequences. For example, disorderly climate and immigration; geopolitics and cybersecurity; protectionism and social unrest.
How concerned are you about geopolitical risk in 2023?
I am more concerned about specific geopolitical events crystallising, such as China and Taiwan, rather than the general downward trend in geopolitical stability.
What's your favourite part of the Christmas holiday season?
Quality time with family and friends.