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Risk Management Strengthened By Financial Crisis

The current economic state has shifted focus to risk management, as more institutions adopt enterprise risk management programs.

By Caroline McDonald | Updated on March 03, 2011

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.

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