Risk Management In 1996: Scandals, Reorganizations And Acquisitions

1996 was the year risk management came of age. The past 12 months have been marked by a host of banks and trading houses setting up or reorganizing their internal risk control groups.

But it was also a year punctuated by a host of trading scandals -- all of which could have been avoided had senior managers observed basic operational risk guidelines.

Other key risk management events included new