Risk appetite statements 'most effective tool' for CROs

Regulatory initiatives welcomed by Australian financial services industry

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A risk appetite statement is the chief risk officer's (CRO) "most effective tool" to engage with the front line of the business to ensure that revenue and risk goals are most closely aligned, according to Bart Hellemans, who heads ING Direct's risk function in Australia.

The CRO was speaking on a panel at the Risk Australia conference, held in Sydney yesterday where he commented on recently introduced regulatory standards intended to improve risk management among financial firms. The use of a

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