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Deloitte Risk Management Survey

Deloitte Risk Management Survey



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Published by John Carney

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Published by: John Carney on Jun 09, 2009
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Global RiskManagement Survey:Sixth EditionRisk managementin the spotlight
Financial Services
Foreword iExecutive summary 1Introduction 3Risk governance 6Enterprise risk management 9Basel II 13Management o key risks 19Credit risk 21
Market risk 24
Liquidity risk 27
Operational risk 29
 Risk management systems and technology inrastructure 30Conclusion 32
Dear Colleague,We are pleased to present the sixth edition o Deloitte’s
Global Risk Management Survey 
.This edition is titled
Risk management in the spotlight 
because the current turbulentconditions—including business volatility, a lack o liquidity in many nancial markets, anda worldwide economic downturn—are bringing the importance o risk management rontand center, perhaps as never beore.The systemic risk to the global nancial system posed by these and other recentdevelopments have substantially raised the demands placed on both regulators andrisk managers. Today, many institutions have a Chie Risk Ocer or similar senior-levelexecutive responsible or assessing and managing risk across their institution. Boards odirectors at many rms have properly assumed overall responsibility or the oversight orisk management. In the banking sector, preparations or compliance with the Basel IIrequirements are nearing completion, while in the insurance industry similar preparationsare being made or Solvency II.Yet, much work remains to be done. Many boards o directors and senior managementteams will likely seek additional education and training on risk management. Institutionsmay need to create a more risk-aware culture, urther inusing risk management intoperormance objectives and business decisions. Many institutions still may need toimplement enterprise risk management programs to gain a more comprehensive viewo the risks they ace. More sophisticated methodologies will likely be adopted by manyinstitutions to manage the risks in today’s more complex environment, such as “tail risks”rom unlikely events and the risks rom a lack o liquidity.Deloitte’s survey provides an assessment o how nancial services companies around theworld are responding to these realities and the key risk management challenges they ace.The survey includes responses rom 111 nancial institutions worldwide with more than $19trillion in total assets, and we would like to express our appreciation to all that participated.We hope that the survey results presented in this report will provide you with useulinormation on how nancial institutions are meeting the challenges acing riskmanagement today and will acilitate a broader dialogue on the steps that may be neededto enhance risk management in the uture.Sincerely,
Edward T. Hida II, CFA
Global Leader - Risk & Capital ManagementGlobal Financial Services Industry PracticeDeloitte Touche Tohmatsu
As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/aboutor a detailed description o the legal structure o Deloitte LLP and its subsidiaries.
Global Risk Management Survey: Sixth Edition
Risk management in the spotlight i

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