6CIOReview | | SEPTEMBER 2022In an evolving compliance landscape, Canadian organizations are implementing groundbreaking technologies to augment their risk management capabilities to achieve operational resilience. They are leveraging advanced analytics and data mining techniques to adopt risk-informed data-driven approaches to gain an enterprise-wide view of key risk exposures.In light of these forward-looking industry initiatives, the global risk management service market is forecasted to be worth $28.87 billion by 2027. The latest market analysis reports the market size will witness a growth momentum at a CAGR of 18.7 percent during the forecast period. The key factors driving the growth of the risk management market include the surge in data security breaches in enterprises and the increase in stringent government regulatory compliances across the globe. In addition, the global rise in the adoption of risk management solutions in fintech industries, along with the growth of risk intelligence gathered from AI, ML, and IoT platforms, is positively impacting the growth of the market.On that note, this edition of CIOReview brings the spotlight on the key advancements in the Canadian risk management space and how Canadian organizations are adopting their risk management strategies to stay ahead of an evolving compliance landscape. The edition features thought leadership articles from Paul M. Bellack, VP of Global IT and Digital Transformation at Magna International and Eric Martin, VP of Information Technology and Digitalization at Groupe Deschenes. They shed light on designing and implementing a multi-year transformation of IT capabilities while accelerating digital transformation initiatives. They also share their insight on the significance of leadership, sponsorship, people, change management, and governance to succeed in digital transformation. This edition also features Third Party Risk Institute, a promising risk management service provider making companies more resilient to operational and third-party risk, compliance, and vendor management through expert membership and certification programs. We hope this edition will help you find the appropriate Canada risk management service provider that will assist you with the best resources to adopt efficient risk management practices.Let us know your thoughts!EditorialReimagining Risk ManagementCopyright © 2022 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewEmail:sales@cioreview.comeditor@cioreview.commarketing@cioreview.com September - 13 - 2022, Vol 11, Issue - 52 (ISSN 2644-237X) Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com CIOReviewVisualizersIssac GeorgeMichael WayneDisclaimer : * Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffJustin Smith Managing Editoreditor@cioreview.comManaging EditorJustin SmithSalesStephen Thomasstephen.thomas@cioreview.com Editorial StaffAaron PierceCarolynn WaltersShirley FaithRussell ThomasGina ClumskyYenny TurnerTiffany HayworthAbner Lawrence
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