Enterprise Risk Management: Proof or Promise?
There is overwhelming consensus among financial services executives that the current risk environment has become significantly more complex, dynamic, and difficult to navigate. Some new mandates are expensive and cut into margins and profitability, so there is a real motivation to not only comply but to more effectively manage the response and cost.
Furthermore, risk failures have forced everyone to rethink how they handle re-regulation, how their staff reacts to re-regulation and what tools to leverage to minimize exposure - and for some strategic firms, how to seek opportunities.
In this paper, we:
- Briefly explore today’s regulatory and risk management landscape and the very real impact on companies
- Explore a framework for risk management maturity evaluation and the need for leadership to share a common vision on the objective and journey
- Address how an organization’s culture links to risk management disciplines – essential for avoiding a misfired risk initiative owned by a single function
- Define how risk management and the customer, efficiency, and service are not enemies but can and must be considered simultaneously with tools and disciplines that many institutions have begun to explore
- Discuss how technology is a subordinate but critical enabler for ERM
While Lean Sigma is not a silver bullet for driving business performance improvement, it is a key element of a high-performing business ecosystem which provides the ongoing catalyst to drive innovation while also improving business outcomes.
Related Links:
Lean Six Sigma Financial Services Case Studies
Financial Services Industry Solutions
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