Risk Management:
Live long and prosper … possibly, given a bit of risk management
Just when we were getting used to Liquidity Risk as the new risk on the block, along comes another. Longevity Risk is defined as the risk that people will live longer than expected and given it is asserted to be one of the largest risks pension funds bear (as it increases the amount of pension these “longer livers” claim), it has had greater publicity over recent months. Unlike investment risk, longevity risk is not rewarded with any return for the investment firm, and unlike interest rate risk, it cannot easily be hedged.
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The Role of Communication in Risk Management
Bob Scanlon, Group Chief Credit Officer at Standard Chartered Bank, tells a recent Intel fasterRISK event about the role of communication in risk management and gives an example of how cross department/cross silo communication could have saved a firm up to a billion dollars.
Better Risk Management in a Flash
The imperative to improve risk management following the recent credit crisis and resulting market turmoil is clear. How to address this challenge is less clear. How can one deliver material business benefits whilst also trying to save costs?
Defusing the legacy time bomb
Moving from legacy systems can be costly, risky and time consuming, but with the correct planning and approach, most of these ‘barriers’ can be removed.
