Special Supplement: Risk Management - A Better Way To Meet Today's Needs - Are Organisations' Risk Management Systems Serving Their Needs Or Just Complying With Regulations? The Banker And KPMG Have Compiled This Guide To Assessing Systems And Adapting Th.

Banker, The, September, 2007

There is an old adage in management that states: "If we were starting out today, we wouldn't start from here." Risk management in banks (and many other firms) is currently spread around different parts of the organisation, often silo-operated through political pressure and using systems which do not integrate properly, if at all. No one in their right mind would build a risk management system along these lines - and in reality, no one set out to do so.

Risk management has become a victim of the regulation that was designed to create a safer and more stable financial system. Huge new initiatives, such as Basel II, MiFID, Sarbanes-Oxley, IFRS, Solvency 2, etc, have been created in independent spheres, leaving the banks and other financial firms the task of...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.