Bank risk committees: desperately seeking risk managers

Most boards still lack career risk specialists despite tighter governance requirements

Mark Long, nbillustration.co.uk

Click here for table showing bank risk committee composition

Regulators have spent the last several years toughening their rules on the quality of banks’ risk oversight. They had good reason to act: in the years that followed the crisis, it was acknowledged risk committees were often too stretched to wield proper oversight of banks’ risk appetites, and in many cases too lacking in expertise to understand them – even where they met regularly enough to form a proper view. But despite some