The significance of risk management is soaring up the corporate agenda, a survey of risk and capital management practices by the Tillinghast business of Towers Perrin has found.
The survey said 86% of the industry leaders questioned believed risk and capital management is a greater priority today than it was a year ago.
An effective use of capital is essential to a sound risk management strategy, 55% of respondents said.
But tools and techniques available on the market to measure operational risks are not satisfying 90% of the respondents.
Less than a third of those surveyed (29%) reported clear roles and responsibilities roles and responsibilities for modelling and managing risks.
