Emily McCormick, vice president of research for Bank Director
Risk and banking go hand in hand, but the industry’s approach to risk management has changed dramatically since the 2008 credit crisis. The Dodd-Frank Act requires banks with assets greater than $10 billion to have a board-level risk committee, and many of their smaller brethren have followed suit. Enterprise risk management (ERM) programs, which take an overall view of risk at the institution instead of managing risks like credit and compliance separately, have been adopted by many institutions. The board’s role in risk oversight, both in terms of time and responsibility, has increased exponentially. Many financial institutions are adjusting to...
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Emily McCormick is the vice president of research for Bank Director, an information resource for directors and officers of financial companies.You can follow her on Twitter at twitter.com/ehmccormick or get connected on LinkedIn.