For several years, SAS and “The Banker” have conducted an executive thought leadership program for enterprise risk management. Silvia Pavoni, Investment Editor for “The Banker,” interviews Al Sim, Senior Director at SAS, to learn of risk management best practices and trends this program has uncovered.
Sim said one topic that seemed more prevalent in this year’s program was the notion that Chief Risk Officers have a much easier task of communicating the effects of risk on the business “when they play a strategic part in the boardroom.” This seems to indicate that the progress seen in the 2011 survey of financial services executives has not slowed and is bearing fruit.
Share this series of articles by James Lam with your colleagues – The Role of the Board in Enterprise Risk Management. In this series, Lam digs into some very hard topics, including what the board should know about risk, why boards and organizations failed at managing risks, what role board members should play in a firm’s risk decisions and where the CRO and others fit into decision making.