Managing non-financial risks: A new focus area for executive and non-executive board members

Thomas Kaiser

Journal of Risk Management in Financial Institutions, 2016, vol. 9, issue 1, 53-58

Abstract: Non-financial risks have led to severe losses over the past decades, which demonstrates the need for banks to re-evaluate their risk management frameworks. This paper discusses key features of non-financial risks — contrasted with more familiar financial risks — and the level of preparedness of banks to effectively deal with them. Suggested approaches to deal with non-financial risks from a governance, methodology and process perspective are discussed.

Keywords: regulation; non-financial risks; risk management; governance; operational risk; reputational risk; strategic/business risk (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:aza:rmfi00:y:2016:v:9:i:1:p:53-58

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