Complacency is the biggest risk to sound risk management, says former head of CEBS

Complacency and a ‘tick-box’ approach to implementing Basel II is the biggest threat to sound risk management, according to José María Roldán, the former head of the Committee of European Banking Supervisors (CEBS). Instead, the Accord should be implemented as a philosophy by all.

“The board and senior management at the highest level need to understand risk. [Risk management] is not just done by a few, but an entire firm,” said Roldán.

The Accord should influence both long-term strategy and day-to-day decisions, as controlling risk is another way to make money and ensure success of an organisation.

Roldán also emphasised the benefits of the revised Accord, saying it will allow for better allocation of resources, less pro-cyclical behaviour and will be an effective

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