For risk management to be truly everyone’s business, actions must be taken that are far more bold and encompassing than mere structural tweaks.
Financial firms have learned a crucial lesson from the economic crisis: There is a better way to manage risk. Although many people limit their thinking about past failures just to independent control groups, risk management is much broader than that. It must be interwoven with business strategy and even corporate culture to foster the proper balance of risk and return throughout an organization.
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