Despite the continued fall-out from the financial crisis across the banking industry, it appears that not enough institutions are planning to make fundamental changes to their risk frameworks.
The claim comes from KPMG International as they unveil the findings of a new survey into apparent risk management failures which many in the industry are now coming to terms with.
The results show that 90 percent of the 400 banking execs surveyed by the Economist Intelligence Unit on behalf of KPMG have carried out — or plan to carry out — a review of the way they manage risk. Yet only 42 percent of respondents have made — or plan to make — fundamental changes to their risk processes.
See full Press Release.
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