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Global Risk Management Survey by Deloitte. Chief Risk Officer - CRO

Navigating in a changed world

Global Risk Management Survey by Deloitte. Chief Risk Officer - CRO
The financial services industry is emerging from an extraordinarily unsettled period, and as one result the boards of directors and senior management of financial institutions are reexamining their approaches to risk management, including their risk frameworks, governance, and methodologies.

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, and its results are based upon the responses of 131 financial institutions from around the world - including retail and commercial banks, insurance companies, and asset managers - with aggregate total assets of more than $17 trillion. Key findings of the survey include:

- The position of Chief Risk Officer (“CRO”) continued to become increasingly prevalent. Eighty-six percent of institutions had a CRO or equivalent position, up from 73 percent in 2008 and 65 percent in 2002. The CRO has been given a high profile, reporting at the board level or to the CEO (or both) at 85 percent of institutions. Fifty-one percent of institutions reported that the board of directors conducts executive sessions with the CRO, compared to 37 percent in 2008.
- In the wake of the global financial crisis, the importance of incorporating risk management considerations into performance evaluations and compensation decisions has been widely discussed, but 37 percent of institutions reported that they had completely or substantially done so for business unit personnel.
- More institutions have adopted ERM programs - 79 percent of institutions reported having an ERM program or equivalent in place or in progress, an increase from 59 percent in 2008. The greatest challenges in implementing an effective ERM program, cited by roughly a quarter of institutions as extremely or very challenging, were integrating data across the organization and cultural issues.
- More than 80 percent of institutions experienced significant impacts from regulatory changes in the countries where they operate; at 40 percent of responding institutions, these impacts included the need to maintain higher capital levels and the need to maintain higher liquidity ratios.

Read the full report to learn how financial institutions are navigating the challenges of risk management in today's changed marketplace.

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Lundi 28 Mars 2011

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