NU Online News Service, June 8, 1:40 p.m. EDT
A global survey of 111 financial institutions including insurers has found only 36 percent have an enterprise risk management (ERM) program, the Deloitte consulting firm said.
The firm said banks and other financial institutions' risk management efforts need work when it comes to integrating risk responsibilities into compensation goals, establishing integrated risk management processes and systems, and improving model validation.
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