Sixth annual global risk management survey
Much has been reported about a crisis in banking in Ireland. Indeed, the Central Bank, in its review of 2008, highlighted that “Policy-makers everywhere took unprecedented steps to restore stability to their banking systems and to limit the damage to the real economy.” The crisis has been a global, as well as local, one.
The systemic risk to the global financial system posed by these and other recent developments has substantially raised the demands placed on both regulators and risk managers. Today, many institutions have a Chief Risk Officer or similar senior-level executive responsible for assessing and managing risk across their institution. Boards of directors at many firms have properly assumed overall responsibility for the oversight of risk management.
The attached Deloitte survey provides an assessment of how financial services companies around the world are responding to these realities and the key risk management challenges they face. The survey includes responses from 111 financial institutions worldwide.