The global financial crisis brought a new focus on risk management, with nearly 34 percent more institutions reporting to have adopted enterprise risk management programs compared to 2008, according to a survey by Deloitte.
The seventh edition of the report, titled “Navigating in a Changed World,” surveyed chief risk officers, or their equivalent, from 131 financial institutions globally, with aggregate assets of more than $17 trillion. They represent a range of financial services sectors, including banks, insurers and asset managers, Deloitte said.
The survey's lead author, Edward T. Hida II, global leader-Risk & Capital Management, Global Financial Services Industry, Deloitte Touche Tohmatsu Limited, noted in his forward remarks that regulatory requirements are being “rethought and fundamentally revised with the goal of reducing systemic risk to the financial system.”
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