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
YUKI IWAMURA/ASSOCIATED PRESS

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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https://www.wsj.com/articles/bank-failures-train-spotlight-on-shortcomings-in-risk-management-79765579

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