Global Bank-Wide Efforts
Integrated, enterprise-wide risk management was the name of the game in 1998. Market, credit and operational risk revamps made headlines throughout the year, as banks worldwide replaced traditional risk management operations with sophisticated analytics, cutting-edge technology and independent risk management units. These are some of the risk revamp highlights of 1998 that took place in banks around the globe:
Merrill Lynch deploys back testing for VAR validation
New York--Merrill Lynch
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