Have recent financial crises exacerbated the natural conservatism of Asian banks?
Most banks have yet to embrace the necessary cultural and mind-set changes required to transform their respective risk management framework.
The last global financial crisis has been described as a failure in risk management. Senior executives of some of the biggest global banks involved in making decisions on the risk that their banks were taking did so without really understanding what these risks meant.
In the aftermath of the crisis that brought the global economy to the brink of another great depression, fundamental changes have taken place in bank regulation and supervision that emphasise a more strategic, integrated and coordinated framework for the management of risk in financial institutions.
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Categories: Operational Risk
, Risk and Regulation
, Bank Mandiri