According to a global survey of 316 financial services executives, over 70% of respondents believed that the losses stemming from the credit crisis were largely due to failures to address risk management issues. The results of a global survey conducted by the Economist Intelligence Unit on behalf of SAS highlighted enterprise risk management strategies. Executives now appear to be paying attention, with 59% of survey respondents saying the credit crisis has prompted them to scrutinise their risk management practices in greater detail. In anticipation of closer scrutiny from regulators, many institutions are revisiting their risk management practices. In addition, recent reports by the Financial Stability Forum (FSF) and the Institute for International Finance (IIF) are now calling for closer scrutiny of the risk management process. Survey respondents identified several challenges such as data and company culture, which have affected the implementation of comprehensive risk approaches. For many executives at financial services firms, access to relevant, timely and consistent data is a major obstacle. In addition, almost half of the respondents believed fostering a culture of risk management was the most widely encountered challenge.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.