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Managing non-financial risks : a new focus area for executive and non-executive board members/ created by Thomas Kaiser

By: Material type: TextTextSeries: Journal of risk management in financial institutions ; Volume 9, number 1London : Henry Stewart Publication, 2016Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 17528887
Subject(s): LOC classification:
  • HD61.J687 JOU
Abstract: Non-financial risks have led to severe losses over the past decades, which demonstrates the need for banks to re-evaluate their risk management frameworks. This paper discusses key features of non-financial risks — contrasted with more familiar financial risks — and the level of preparedness of banks to effectively deal with them. Suggested approaches to deal with non-financial risks from a governance, methodology and process perspective are discussed.
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Non-financial risks have led to severe losses over the past decades, which demonstrates the need for banks to re-evaluate their risk management frameworks. This paper discusses key features of non-financial risks — contrasted with more familiar financial risks — and the level of preparedness of banks to effectively deal with them. Suggested approaches to deal with non-financial risks from a governance, methodology and process perspective are discussed.

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