Managing Risk: Rising Expectations And Accountability
- Topics:
- Enterprise Risk Management
- Tags:
- Accountability,
- Security,
- Risk Management,
- Management,
- Financial Services,
- Financial Planning,
- Finance,
- Board Member,
- Bank,
- Strategy
- Source:
- Board Member
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Overview: From the executive summary: ‘Today, the products and services banks offer are more complex, the costs of implementation are greater, and the consequences of missteps are higher. Serious consequences include financial losses, regulatory enforcement actions, lawsuits, customer flight, and bank failure. Complexity, cost, and consequences could be called the three Cs of risk management. But banks are finding difficulty in judging the risk implications of each decision or activity in terms of the three Cs. Experts suggest that managing risk involves paying attention to portfolios and business lines and taking appropriate actions before problems occur. Breaking the ongoing risk management process down into definable steps is useful.’ The paper explains how banks can cope with ensuing risks by adopting risk management tactics.
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Format: HTML | Date: Apr 2003 | Pages: 1
