Risk management is not a job for compliance

Credit Suisse losses show why boards require real risk management expertise, says ex-BoE supervisor

Archegos losses
Risk.net montage

Credit Suisse’s recent losses on its Archegos financing remind me of an announcement – nearly 10 years ago – from the repo desk of my then-employer, at our weekly sales meeting. The desk had proudly booked $3 million of profits on a long-dated, multi-billion-euro structured trade with the National Bank of Greece. When I enquired about the collateral, I learned it was composed of Greek government bonds. My heart sank.

This was only the beginning of the eurozone crisis, and many institutions were

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

Digging deeper into deep hedging

Dynamic techniques and gen-AI simulated data can push the limits of deep hedging even further, as derivatives guru John Hull and colleagues explain

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here