
Credit crunch is a risk management cultural failure
Daily news headlines
LONDON – Better risk management would have lessened the effects of the credit crisis, according to a new study. The survey, conducted by the Economist Intelligence Unit on behalf of risk management software firm SAS, says firms are now revisiting their risk management practices in the wake of the market turmoil.
Over 70% of respondents believed losses and writedowns stemming from the credit crisis were largely the consequence of failure to address risk management issues. The survey was conducted globally with 316 financial services executives.
Almost 60% of executives said market events had caused them to scrutinise their risk management, partly in expectation of tighter regulation. The study also claims firms are demanding more holistic enterprise-wide risk management programmes.
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 [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Risk management
Regulation
What lies beneath: Nomura’s iceberg balance sheet
Collateral received by the Japanese bank exceeds its total on-balance-sheet assets – does it matter?
Receive this by email