The role of risk management within a business has undergone dramatic changes in recent years.
Today, risk management is seen by many as a key enabler of growth and profitability whilst it is also considered a tool for value addition in forms of assurer, assessor and advisor.
Since the financial crisis, the regulatory and business environment has become more complex, volatile and unpredictable. In addition, Financial institutions have faced a significant amount of new regulatory requirements which have driven up compliance costs, whilst increased capital and liquidity requirements have reduced returns.
As a result, financial institutions need to decide if they will continue with business as usual or rethink their approach to risk management.
Read the full article by Head of Audit, Niall May, here.