Risk Control Requires Authority, Goals and Organization
When, in my seminars, I am asked about a basic prerequisite for rigorous risk management, my responses include not one but several factors, some of which are general and others specific to the enterprise. By far the most important is independence of opinion, which was discussed in Chapter 8. The person entrusted with risk control must be able to speak his/her mind, and advise top management to stop compounding the risks.
KeywordsRisk Management Balance Sheet European Central Bank Credit Default Swap Risk Control
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