The regulator that troubleshoots first, asks questions later
Canada’s bank watchdog aims to intervene early to tackle burgeoning risks, even at the expense of “perfect” regulatory decisions, explains risk chief
A regulator’s job is to examine the risk appetite of banks. So why shouldn’t the regulator also set its own risk appetite?
It’s a question that Canada’s Office of the Superintendent of Financial Institutions has answered. On May 11, it published its new risk appetite statement.
The document “puts a corporate-wide or organisation-wide hat on the way we manage risk and allocate resources”, explains Angie Radiskovic, assistant superintendent and chief strategy and risk officer at Osfi.
Some
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