Security

Rethinking Risk Management In Financial Services: Practices From Other Domains

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Executive Summary

The financial crisis has, to put it mildly, seriously challenged our traditional approach to risk management. Consequently, a number of individuals and institutions have advanced ideas for improving not only the analytical framework, but also the status and relevance of risk management. This paper, not only reacts to the most recent episode, it also attempts to address a deeper problem: the demonstrated inability of the global financial system to constructively mitigate and deal with financial crises.

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