An interesting comment from a respected senior associate today is worth pondering on:
Am guessing/hoping this [Systemic Risk] is directly in your wheelhouse & not sure how ISO 31000 deals with it as it involves or influences multiple systems within a sector or industry.
In my world, this type of issue is viewed as an external influence which essentially sidelines what should be considered a strategic risk.
Would be interested to see your thoughts on your site or in the group.