A key learning from the financial crisis is the importance of understanding and managing risk. Risk management incorporates several elements which need to be integrated holistically at the enterprise level, such as market, credit, liquidity and operational risk on both assets and liabilities across different products, channels, customers and geographies. Successfully addressing these issues requires an internal cultural shift toward the recognition of risk by the business as a function operating with the same business goals in view and with a key role to play in achieving those goals. Organizations need individuals with strong leadership and influencing skills as well as considerable business acumen to lead the risk function through this shift and beyond.
For information about copying, distributing and displaying this work, contact permissions@spencerstuart.com.