Enterprise risk management (ERM)

The rotten core

The US is now closely examining the root causes of the subprime crisis, including mis-selling, fraud, poor internal controls and perverse incentive schemes. David Benyon explores these issues, and some potential solutions

Rethinking (operational) risk management

For operational risk managers to really make a difference to their firms' fortunes, they must be willing to get their hands dirty and face facts, no matter how scary the facts may be, says Sergio Scandizzo, in the second of a two-part series

Required reading

Over the past year, we have witnessed a unique experiment in what makes financial risk management effective. A succinct supervisory summary of what we have learned should be required reading for all interested parties, argues David Rowe

Where the buck stops

Risk management units alone cannot avoid the damage from periodic bouts of irrational exuberance. That responsibility lies with the chief executive, argues David Rowe

It takes two

In the March 2007 edition of OpRisk & Compliance, Glenn Christensen of Synovus outlined the first part of his firm's two-pronged enterprise risk management methodology. Here, he describes thesecond part, and has some new findings and techniques to share

A call to action

The global credit crunch shows just how much the world's financial services firms need to raise their game when it comes to risk management, says Charles Dallara, managing director of the Institute for International Finance. By Ellen Davis

The bigger picture

In 2003, rating agencies considered operational risk as a separate risk category, but quantification problems have prompted them to take an integrated, enterprise risk management approach.

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