Global risk management survey seventh edition - Navigating in a changed world | Whitepaper
After the turnoil of the global financial crisis characterised by financial market dislocations and loss of liquidity, many world economies and financial markets appear to be strengthening, but serious concerns remain.
Although the financial services sector is recovering, institutions are not returning to the same playing field; instead, they are operating in a changed world marked by fundamentals shifts. During the last few years, risk management assumptions and methods have been challenged as never before.
As a result, many institutions are rethinking their risk management governance models, including a more active role for their boards of directors in overseeing risk management. Some risk management methodologies may need to be reassessed and validated to assess whether they adequately measure the "tail" risk from rare, but potentially catastrophic, events.
Many institutions are revising their business models in response to the global financial crisis and the regulatory changes that have resulted, and so risk management programs may need to adjust accordingly. A wave of regulatory change will almost certainly mean greater oversight, especially for institutions that are deemed to be systemically important.
Deloitte's Global risk management survey, seventh edition, assesses the state of risk management in this new environment. The survey was conducted during the third quarter of 2010: 131 financial institutions from around the world, with aggregate assets of more than $17 trillion and representing a range of financial services sectors, participated.
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