Many critics of ERM point to the banking crisis of 2008 and 2009 as an example that ERM does not work. Steve Dreyer, Managing Director and Practice Leader at Standard & Poors, explains how banks either weren’t practicing ERM correctly or didn’t have strong metrics in measuring their risk assessment. He speaks to how he believes banks were simply doing risk management in name only and they didn’t look at risks beyond a typical scope.
Read ERM articles as soon as we post them
Keep up-to-date with current developments in ERM. Subscribe to the ERM Newsletter.