Rethinking riskmanagement - Banks focus on non-financial risks and accountability
Abstract
Rethinking risk management is the sixth annual study of risk management practices conducted by EY in cooperation with the Institute of International Finance (IIF) since the
financial crisis. A total of 51 firms across 29 countries participated in this year’s study. The five previous surveys delivered a clear picture of the industry moving steadily year by year to enhance risk management systems and processes to meet regulatory
and market demands for tightened controls and prevent a future crisis from occurring. This year’s survey sees further consolidation of those changes but also the start of a process to re-engineer some aspects of risk management, one requiring new approaches and tools.