Bank Failures Train Spotlight on Shortcomings in Risk Management

Posted on AllSides March 22nd, 2023
From The Center
Banking and Finance, Bank Crisis, Risk Management

As banks and regulators scurry to respond to the most perilous industry conditions since the 2007-08 financial crisis, experts say one persistent issue needs attention: risk oversight that’s not always up to the job.

Board-level risk committees at many banks have neither the clout nor the expertise to push back against corporate leadership, risk professionals say, a weakness that should be addressed in the wake of the recent bank collapses.

The largest banks, those with $50 billion or more in consolidated assets, are required by law to maintain a risk committee that...

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