Risk management held back by lack of clear definition

Risk managers must collectively define the value of their trade to be taken seriously, according to Andrew Smith, chief financial risk officer of UK bank HBOS.

Smith, speaking at a jointly held International Swaps and Derivatives Association and Professional Risk Managers' International Association conference in London this week, said this lack of any coherent definition of risk management is holding back the industry.

He highlighted the lack of consensus, even among the risk professionals in attendance, as to whether risk was an art or a science. He argued that for risk managers to have their business taken seriously, a clear definition of risk

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


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

This address will be used to create your account

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