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On Monday, I blogged about Gillian Tett’s book, Fool’s Gold: How the Bold Dream of a Small Tribe at J. P. Morgan Was Corrupted by Wall Street Greed and Unleashed a Catastrophe. Here are a few more of the key risk management lessons that I was able to glean from reading the book.
Lesson 3: You cannot afford [...]
In a previous blog, I recommend Gillian Tett’s book, Fool’s Gold: How the Bold Dream of a Small Tribe at J. P. Morgan Was Corrupted by Wall Street Greed and Unleashed a Catastrophe. In this blog I want to describe a few of the key risk management lessons that I was able to glean from reading [...]
[Read More]Once the strategic foundation for an Enterprise Risk Management (“ERM”) program has been set, the next critical element for success is the implementation of a solid technology platform to streamline the program. Without the right technology, an ERM program can quickly evolve into a bureaucratic nightmare that requires much more effort than it is worth. [...]
[Read More]How often have you wondered what exactly happened during the subprime crisis, when the financial system nearly collapsed and trillions of dollars of “wealth” evaporated? I have read numerous articles and attended sessions at risk management conferences, but truly understanding what went wrong has escaped me, until now. Gillian Tett’s splendid book, Fool’s Gold: How [...]
[Read More]In my last blog entry, I discussed how a strong partnership between a company’s Chief Risk Officer (“CRO”) and Chief Audit Executive (“CAE”) can be developed and maintained. Once a strong partnership has been formed, the two leaders can then work toward creating a strategy for operating a successful Enterprise Risk Management (“ERM”) program. This [...]
[Read More]The noon panel at GARP discussed risk and performance management, with a diverse set of participants, including representation from Hess, Swiss Re, and Vanguard.
Kanwardeep Ahluwalia from Swiss Re noted that many companies are going through a derisking process right now. However, Ahluwalia cautioned that companies need to be cognizant of how much they are paying [...]
This morning’s featured panel discussion at GARP includes several CROs and senior risk practitioners from Morgan Stanley, The Vanguard Group, Credit Suisse and Western Asset Management.
The first topic was VAR. VAR works in “normal markets.” There a question of what is the appropriate time window. One panelist remarked that it would be good to have [...]
CapGemini hosted a conversation on enterprise risk management this morning at GARP. Panelists touched on a number of issues that need to be tackled for successful enterprise risk management:
Helga Houston from Phoenix Global Advisors pointed out that many banking institutions grew very rapidly over the last 10 years and for the most part the risk [...]
[Read More]“The SEC roars like a mouse and bites like a flea.”
         – Harry Markopolos
OPUS 2010 keynote speaker, independent financial fraud investigator and Madoff whistleblower Harry Markopolos will release his exclusive story “No One Would Listen: A True Financial Thriller” on March 2. Â
The book, which will be made available to all OPUS 2010 attendees, describes [...]
Many companies are creating the new role of Chief Risk Officer (CRO) as they seek to evolve their Enterprise Risk Management (ERM) program. These companies recognize the need for a risk champion to sustain an ERM program and provide the necessary executive support to act upon risks that continually surface.
To be effective at sustaining the [...]
