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6 Areas of Risk Management Get Banks' Attention As Enhanced Capital Requirements Loom Closer: Ernst & Young CFO Report Video

Posted by Boris Agranovich on October 7, 2010 at 16:46
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Tags: capital, adequacy, ecomomic, improvement, management
New York, NY, October 4, 2010 (Washington Bangla Radio / PRWEB) The mix of certain products and businesses is likely to change as banks develop a more nuanced understanding of risk and capital requirements, according to Ernst & Young’s latest survey of global bank chief financial officers (CFOs). The survey comes at a time when recent and pending financial reforms are creating uncertainties in the banking industry. “Regulatory changes will likely require banks to increase their capital levels and hold higher-quality capital,” said Peter Davis, a principal at Ernst & Young. “While uncertainty exists over the final requirements, institutions are already taking steps today to prepare for the new regulatory environment.” In the post-financial crisis era, banks recognize that the quantitative risk models many had relied upon are no longer adequate. The survey found that CFOs, chief risk officers and their respective organizations are coming together to focus on six key areas of risk management: 1. Reassessment of business strategy 2. Analysis and implementation of capital optimization opportunities 3. Monitoring and revision of capital adequacy goals 4. Reduction of the complexity of business operations and rationalization of legal entity structure 5. Improvements in reporting 6. Improvements in data quality and systems Watch video of Peter Davis discussing what the report revealed about banks’ capital management and risk management strategies.

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