The buy-in for the risk management function has occurred. The time to push forward is now.
The influence of risk managers appears to be increasing, but they face tremendous challenges, according to Ernst & Young and Greenwich Associates’ survey of more than 40 risk managers at leading asset management firms.
Where does the risk management function stand?
Many risk managers say they are under-resourced, lack a clear mandate for the function, and do not manage to a budget or measure the entire function’s success. These factors contribute to the possibility of risk managers being ill-equipped to deal with major issues, such as the shifting regulatory landscape, which can hinder growth and the opportunity to improve the organization.
Infographic: The state of risk management in the asset management industry
This survey proves that the buy-in for the risk management function has occurred. In our view, the time to push forward is now. Our experience suggests that having a well-defined mandate—that includes a risk management culture ingrained in business decisions made at every level of the organization—is often a key determinant of whether the risk management function fulfills its role.
In this report, we explore further across the following topics: