Category: Enterprise Risk Management
Published: 09 November 2012
Although financial institutions are aware that a robust risk management framework is an integral component of successful business strategies, this research indicates that there is room for improvement in the risk management processes at most firms.
Overall financial institutions certainly have an express desire to bolster their risk management processes as demanded by the new regulatory environment. The influence of risk management divisions on business strategies has grown markedly in the wake of the financial crisis of 2008. However, there is a need to forge stronger relationships between risk and the front office if financial institutions are to regain the confidence of their clients in a post-crisis world.