Machines and MortalsWhen it happens again...Surviving the next banking crisis |
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The industry is only just emerging from its searing experience in the recent turmoil. Yet, another banking crisis may likely come again at some point, leaving winners and losers in its wake. Banks should seize the opportunity provided by the current improved economic conditions to substantially upgrade their risk analytics and information systems and, just as important¸ to create a culture that places a central value on employees’ roles in managing risk.
The banks that emerge stronger from the next crisis will likely be those that have the best ability to anticipate and respond to adversity. This paper outlines considerations for improving a bank's analytical and information systems (the “machine”) and addressing the human component to managing risk (the “mortals”).
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Machines and Mortals
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