Fed’s Bies puts emphasis on qualitative approach

CORPORATE GOVERNANCE

"First, sound risk management is more than technical skill in building internal models," said Bies. "Models of risk need to be integrated into a robust enterprise-wide programme that encompasses even line management’s routine business practices. Second, regular testing of ‘data integrity’ in its broadest sense as it relates to these risk measurement and management processes is essential to the effectiveness of these processes. Finally, I want to raise some issues around accounting and disclosure

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Investment banks: the future of risk control

This Risk.net survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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