10 things every director should know about risk; The focus on risk has only just begun. If you don't have a regular risk assessment program or a risk committee on your board, you will.
Directors & Boards › Vol. 34 Nbr. 2, January 2010
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Summary
RISK OVERSIGHT
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10 things every director should know about risk; The focus on risk has only just begun. If you don't have a regular risk assessment program or a risk committee on your board, you will.
A SPECTER IS HAUNTING the boardroom. In all its forms and guises the nature of the apparition can be distilled to a single word--risk. More than any time in our history, companies are coping with the teeming array of risks that characterize their daily operations. And many boards are underinformed or, worse, unaware.
It has become standard to decry the risk assessments of the major Wall Street firms and the banks, as if they alone possess the balance sheets so striven with endlessly worrying volatilities. But ask not, fellow directors, for whom that risk bell tolls ... it tolls for thee. What has occurred is an explosion of trading and investing based on a sim...See the full content of this document
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