Risk governance update: CFO perspective - Ernst & Young - Global

Risk governance update: the CRO perspective

In 2009, Tapestry Networks and Ernst & Young launched an initiative that brought together directors and executives from leading banks to discuss the board governance and risk oversight challenges confronting them and their institutions. Eighteen directors from 11 European and North American institutions met in New York in October 2009, where they agreed that they have a central role to play in rebuilding trust in the industry, and in working with management and key external stakeholders to build a sustainable future for their institutions.

Since October, the dialogue has continued. Read about four key themes that have emerged from recent discussions with board leaders and risk professionals:

1. Regulatory uncertainty creates significant complications for CROs and risk committees.
2. Risk chairs are diving deeper, but the line between oversight and management is still unclear.
3. Board-level risk, strategy, and capital discussions are becoming more closely linked: businesses are the linchpin.
4. Risk executives see a transition year ahead.