New Year's Resolutions for the Board Risk Committee

The recent Oliver Wyman perspective, New Year's Resolutions for the Board Risk Committee, proposes some 2011 resolutions for Board Risk Committee chairmen and members. In the wake of the financial crisis, the role of the Board with regards to risk management and control has come under increased scrutiny from regulators, investors and other commentators. Banks who have had a  Board Risk Committee for some time have re-evaluated the role, mandate and modus operandi, of that Committee to ensure it still operates effectively. Others have only recently established a separate board-level Risk Committee to help the Board to more effectively execute their risk management responsibilities. Merely having a Board Risk Committee in place is, however, not enough; it must also function properly.


Lead Author
Christian Pedersen, Partner, EMEA Finance & Risk Practice

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