Abstract
This Financial Insights report, based on a survey of senior executives
responsible for coordinating their change management programs for risk
management, unveils the extent of the groundwork that has been laid for Basel
II. Besides addressing their Pillar I initiatives, respondents further shed
light on their IT investments and vendor selection criteria. Using our survey
findings as a guide and supplementing it with our industry knowledge and
experience, we propose key prescriptions for banks keen to get their risk
management implementation up to speed and suggestions for vendors intent on
capturing that risk spending. Our results will provide a useful benchmarking
tool, best practices information and, we hope, a call to action for banks and
the vendor community serving this space.
"With banks moving beyond a mere compliance-focused view to finding
opportunities to improve operational performance, we also queried respondents
on how their risk initiatives are driving value as they continue to operate in
today' s increasingly volatile financial markets," commented Li-May Chew, CFA,
senior research manager for Financial Insights' Asia/Pacific Insurance Advisory
Service.
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