Risk management is moving up corporate agendas in the financial services sector, according to a survey by PricewaterhouseCoopers (PWC).
In its Risk Management Survey, released this week, PWC said three quarters of its respondents discussed risk at group level and more than half had revamped policies on authorising risk-taking.
Half of the companies surveyed had made a senior appointment to oversee enterprise-wide risk and just under half measured performance on a risk-adjusted basis.
However, the survey also showed that just under half of the companies surveyed were dissatisfied with the tools available to measure risk and 85% said aggregation of data across business lines needed improvement.
The survey said the leading financial services providers were "moving steadily towards this more mature concept of risk management, one that aligns risk with decision-making at all levels."
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