Designing A Successful ERM Function
Source: Deloitte Touche Tohmatsu
The market has witnessed huge losses at global financial giants and the biggest collapse of established financial institutions since the Great Depression. These events have affected virtually all FSI sectors, including insurance companies, and offer a harsh reminder of the devastating consequences of financial risk. Recent events have caused some to proclaim that Enterprise Risk Management (ERM) may not be all that it has been represented to be. While many companies are proud of their risk management programs, it is clear that not all organizations in the financial sector have a fully-developed or well-integrated function. Consequently, companies should take a fresh look at their risk management programs and focus on developing capabilities.