Shifting focus: Risk culture at the forefront of banking is the fifth annual study of risk management practices since the global financial crisis, conducted by EY in cooperation with the Institute of International Finance (IIF). A total of 52 firms across 27 countries participated in this year’s study.
In July 2008, the IIF published the final report of the Committee on Market Best Practices, which set out principles of conduct and best practice recommendations for banks in light of the financial crisis. In 2009, EY was asked to conduct a series of surveys of banking executives to assess the changes being made to risk management across the industry. The five surveys to date deliver a clear picture of the industry moving steadily year by year to enhance risk governance, taking on board the lessons from the crisis. The latest survey also shows that more work is still needed across a range of areas.
The full report can be accessed through the link below.