Striving for a strategic role for risk management


The advent of the global financial crisis has raised serious questions regarding the strategic relevance of risk management in corporate governance. Risk management is now often viewed with scepticism, especially after 2008 when several quantitative models were criticised for failing to predict losses.

However, based on a more strategic participation and holistic view of an organisation, risk management still has significant relevance for central banks and other entities. Risk and governance are

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