Plugging the gaps

The various post mortems into the causes of the financial crisis have highlighted weaknesses in bank risk management practices. In particular, many banks approached risk on a silo basis, with little attention given to firm-wide exposures. Are banks intending to upgrade their risk management systems as a result? Donna Haws reports


Regulators and banks are working hard to plug the gaps exposed by the financial crisis. There are plenty of them: a failure to challenge model outputs and assumptions; a lack of understanding of key risks by boards of directors; use of flawed or incomplete pricing models; an overreliance on analysis provided by rating agencies - the list goes on and on. In particular, numerous investigations into the causes of the crisis have highlighted the fact that many financial institutions took a silo

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