Effective and sustainable risk management begins with the
development of a robust and pervasive risk culture. As highlighted
by recent financial market and macroeconomic events, risk managers
must have a clear understanding of their responsibilities with
regard to the risks assumed by their firms.
- Risk education, training and certification helps ensure all
employees have a clear understanding of the functions of the
financial system and the risks assumed by their own
institutions
- Better prepared risk managers are able to recognize potential
problems early on when consequences may be less severe and more
easily mitigated
- As regulators and researchers develop new ways to address
shortcomings in risk management tools, individuals who work in the
financial profession need to stay current on the issues
surrounding risk and regulation