ERM for Banks and Insurers: Trends, Systemic Risk, and CIBC's CRO Playbook
Book: Enterprise Risk Management: From Incentives to Controls
Author: James Lam
ISBN: 978-1-118-41361-6
For Banks, Risk Management Is the Product
GE Capital’s Gary Wendt put it bluntly: get risk wrong and nothing else matters. Financial institutions manage other people’s money. Trust is the business. Expected losses are a normal cost line, which is why annual reports brag about risk committees and limits.