So long as the costs associated with non-financial risk are recognized retroactively, they can be waived off as a "cost of doing business". However, as firms adopt cultural and behavioral metrics to price non-financial risk proactively expectations will shift to forecasting and mitigating them, to the benefit of investors, insurers, regulators, and other stakeholders.
Observations
Jan 11, 2024In a recent Banking Risk and Regulation article, journalist John Crowley examines why financial institutions are struggling to train their employees in the management of non-financial risks. Referencing a survey conducted by the Professional Risk Managers' International Association (PRMIA), Crowley suggests that the lack of an internationally certified standard is central to this challenge.
Compendium
Jun 07, 2023Compendium
Oct 13, 2022The Deeper Dive series is an exclusive benefit to Members of Starling Insights. If you would like to read “The Costs of Misconduct,” purchase the report or join as a Member to enjoy full access to Starling Insights.
Observations
Sep 19, 2022by Richard Spencer, Timothy O'Neill
Compendium
May 15, 2022by Gary Cohn, Keith Noreika, Barbara Novick
Compendium
May 15, 2022by Bob Wardrop
Compendium
May 15, 2022
