Bank risk management weaker in Asia-Pacific region, says S&P

SHANGHAI, CHINA -- The connection between risk management and corporate strategy is generally weaker in banks in the Asia-Pacific region than in more developed markets, according to a study issued in May by credit rating agency Standard & Poor’s (S&P).

Asia-Pacific banks participating in the study revealed a lower level of involvement by their board and executive committee in creating a risk management vision, Ken McLay, head of S&P’s risk solutions group in Asia, said in comments on the report.