Enterprise Risk Management (ERM) – the holistic process of planning, organizing, leading and controlling the activities of an organization in order to minimize the effects of risk on its capital and earnings process – is not a new concept. In fact, financial services companies have been among the leaders in developing and implementing ERM frameworks.
Since the money center banks started focusing on ERM, the financial services industry has been subject to pervasive change – the kind that affects all sizes and types of financial services companies. For larger financial institutions, this change may have included developing new and sometimes complex product offerings, as well as expansion into new businesses and new geographies.
For financial services companies still on the fence, the views discussed in this newsletter may be insightful. These views support the proposition that ERM makes good business sense, helping companies face competitive pressures and solve major business issues.
This newsletter also reports on the broadening scope of Routine Broker-Dealer Examinations.
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