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July 31, 2009
PRMIA and CMRA Issue Risk Governance Survey Report
PRMIA, in partnership with Capital Market Risk Advisors (CMRA), recently issued a report highlighting the results of a comprehensive benchmarking survey on the risk governance practices of banks, insurance companies, asset managers, hedge funds, and pension funds/institutional investors.
This report illustrates that risk governance is an evolving process and provides an in-depth look at the approach financial institutions are currently taking to risk governance and the plans they have for the future.
Some of the survey's principal findings were:
85% of the surveyed financial institutions have a CRO or an executive with a similar function, but 25% of them are limited to a control role.
The practice of regular, unfettered CRO sessions with the Board is still evolving, with 20% never having any such sessions.
The top risk concerns for the second half of 2009 are credit losses, volatility and government changing the rules
PRMIA Sustaining Members will have an opportunity to access the complete survey results report within the next several weeks via the Exclusive Content box on PRMIA's website. Watch your e-mail for more information.
Posted by PRMIA_Marketing at July 31, 2009 10:19 AM
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