Chief financial officers, chief risk officers and compliance officers around the world are in agreement that risk management costs will continue to escalate over the next 18 months and beyond, with some predicting “exponential” increases as regulatory requirements tighten.
Ernst & Young’s 2010 survey on risk governance, Recover, adapt, advance: back to business in an uncertain world, reveals that 80% of banking executives polled are bracing for significant increase in costs to manage heightened regulatory requirements and strengthen risk governance across their business.
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