29-10-2009
29-10-2009

Risk Management Lessons from the Global Banking Crisis of 2008

The Senior Supervisors Group Issues Report on Risk Management Practices

Financial supervisors from seven countries issue an evaluation of how weaknesses in risk management and internal controls has contributed to industry distress.
Ten critical areas of needed improvement that are broadly relevant across firms emerged from the self-assessment results and interviews. Supervisors believe that considerable work remains in these areas, encompassing governance, incentives, internal controls, and infrastructure.

These areas are:

1. Board Direction and Senior Management Oversight
2. Articulating Risk Appetite
3. Compensation Practices
4. Information Technology Infrastructure
5. Risk Aggregation and Concentration
6. Stress Testing
7. Counterparty Risk Management
8. Valuation Practices and Loss Recognition
9. Operations and Market Infrastructure
10. Liquidity Risk Management

Read the full report.
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