31 August 2011

CII Thinkpiece 61: 'Back to Basics - Rethinking Risk Management and Regulation in a Post-Crisis World'

This Chartered Insurance Institute paper seeks to make sense of the crisis in terms of its implications for the management of risk. It reflects on the future for the practice of risk management, and provides some recommendations for financial institutions, and their regulators.

In the author Dr Simon Ashby's view, with widespread changes to the UK’s regulatory framework underway, now is an opportune moment to reconsider how supervisors should assess firms' cultures and behaviours. This thinkpiece paves the way to understanding what a ‘good’ risk culture might look like and how firms, incentivised by regulators, can go about achieving it.

The implications and recommendations provided follow on from previous research published by the Financial Services Research Forum (FSRF) which used data from interviews with 20 industry professionals to investigate the causes of the crisis and the lessons that need to be learned from it.

Thinkpiece 61

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