![]() ![]() Advances in risk-management theory and in technology, taken together, allow banks to identify, measure, monitor, and control risk more effectively. Due in part to some of these same factors, the risk-management systems available to banks have also improved. Banks are surrounded by a legal environment of constant change. Banks face unprecedented domestic and international competition not just from other banks but from a growing arena of financial institutions. Banking markets today are constantly affected by innovations the increased use of technology and a virtual explosion in the types, volume, and velocity of financial transactions. Banks are-have always been and always will be-in the business of risk management.įor a number of reasons, however, risk management is more important than ever before. However, the fact is that risk management has been around as long as the business of banking. ![]() It seems that everyone these days-bankers, regulators, Congress, journalists, consultants-are all promoting the virtues of risk management, so much so that it is easy to get the impression that risk management is the latest fad in banking.
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