Resources for Sarbanes-Oxley (SOX)

Firms Can Improve ERM to Create Competitive Advantage in a Changing Risk Environment

www.wallstreetandtech.com

To paraphrase the late Tip O'Neill, all financial services is risk. How long will you live? I'll insure you. How much do you make? I'll lend to you. What are your company's prospects? I'll buy a piece of you.

In these and hundreds of other scenarios across the banking, brokerage and insurance industries, risk bets are made that define the fortunes and failures of financial institutions. At their core, financial institutions are buyers and sellers of risk. What challenges firms managing risk today is the convergence of two inexorable trends: increasing complexity and decreasing time frames. Contrast the financing of a merchant vessel (and waiting more than a year for your "ship to come in") with today's global, multi-asset-class, multi-currency electronic trading. Clearly the shape of risk is changing — and in real time.

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