2014 Risk Practices Survey Summary Report (Bank Director, FIS)

March 2014

KEYWORDS: Dodd-Frank Act, banks, risk management, risk manager, chief risk officer, Survey

Authors:

Bank Director

Organizations:
  • Bank Director, FIS

Summary:

The banking industry has made great strides over the last few years in the management of risk, and a number of important best practices have begun to emerge, according to Bank Director’s 2014 Risk Practices Survey, sponsored by FIS.  While the Dodd-Frank Act requires publicly traded bank holding companies with more than $10 billion in assets to establish separate risk committees of the board, and banks over $50 billion to additionally hire chief risk officers, smaller banks are proactively following suit.  By taking a more comprehensive approach to risk management, these institutions are reaping the benefits with improved financial performance.

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