Analyzing 'Corporate Risk Oversight Principles'
Compliance Week › Vol. 7 Nbr. 75, April 2010
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Summary
First the familiar part. Boards, the principles assert, should see risk as "an inseparable element of strategy and a crucial driver in achieving the company's objectives." In other words, directors oversee risk, but don't get into the weeds on it. That's management's job.
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Extract
Analyzing 'Corporate Risk Oversight Principles'
It's way too early for nostalgia about the fi nancial crisis. But one of the most telling anecdotes coming out of this period was from John Thain, remarking to the Wall Street Journal on his time as CEO of Merrill Lynch. "Merrill had a risk committee," he asserted. "It just didn't function."
Since then, legions of experts have devised sage guidance on what boards should do ...See the full content of this document
(Copyright 2011)
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