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Sub Prime Crisis Forces Organizations to Reevaluate Outdated ERM Practices
Excerpted from TREASURY & RISK MAGAZINE: "Time to Bail on ERM?"
June 2008

TREASURY & RISK MAGAZINE

Some CROs (Chief Risk Officers) quit in disgust, never really given the opportunity to ride herd on an enterprise-wide risk management system or simply ignored by traders who ran amok in their own fiefdoms. Others were fired as scapegoats, left holding the bag for mistakes beyond their control. “When the onion peeled back, it disclosed that one part of the bank wasn’t talking to the other—it was almost that simple,” says Mat Allen, enterprise risk services practice leader at insurance broker Marsh in New York.


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