A new KPMG assessment of risk governance at 20 systemically important banks (SIBs) finds that board risk committees (BRCs) face significant challenges in analyzing the entire array of risk that face the entity.
Based on KPMG partners’ knowledge of their SIB clients from around the world, the survey shows the need for greater automation of data collection to allow more time for analysis by practitioners. The study also reveals that although skills and processes have improved in recent years, there is still a long way to go to raise the quality and granularity of risk governance to the standard that global regulators expect.
© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.