Risk Italia 2003: Growing proficiency in risk management allows more risk, says Cocco
Increasing proficiency by risk managers is allowing financial institutions to run more risk, according to Pierfrancesco Cocco, head of risk management at Banca Monte di Paschi di Siena. Speaking today at Risk’s inaugural Risk Italia conference in Milan, Cocco said banks are taking on more risk as the role of risk manager evolves from a ‘watchdog’ to fostering and managing greater concentrations of risk.
According to Cocco, the risk manager's responsibility now goes well beyond traditional risks. Cocco said the Basel II capital Accord has also added new dimensions to the risk manager's role. Under Basel II, risk managers will have to identify the
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