risk_management_in_corporate

May 20th, 2015
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Arkansas Tech University
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The financial services industry has been marked by volatility over the past 10 years and will likely continue to experience the same volatility over the next 10 years. This is the character of the financial markets, and it has been made more severe by electronic trading. The challenge is the diagnosis.

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About Risk Management in the Financial SectorThe financial services industry has been marked by volatility over the past 10 years and will likely continue to experience the same volatility over the next 10 years. This is the character of the financial markets, and it has been made more severe by electronic trading. The challenge is the diagnosis. Government advocates a diet of regulations like Basel II, Solvency II for insurers, UCITS 3 for asset managers and Sarbanes Oxley (SOX) for everything else. Now AIG, Bernard Madoff and the loss of Lehman Brothers are spurring a new set of regulations; risk managers in the financial sector can already feel the new treatment. This article will provide a brief history of risk management in the financial sector and explain why the term has become synonymous with financial control, compliance and governance. It will also discuss its relevance in today's environment, current issues in the field and recent developments. History1. It is not possible to understand or discuss risk management without understanding the roles financial catastrophe and regulation have played in the development of the field. Until 1863, regulation was governed at the state level. Efforts to centralize a national bank failed, twice. The Civil War created the need to raise national capital, so U.S. Treasury bonds were created--along with a regulatory body to govern them. Each new capital markets product or catastrophe introduced the need for greater financia

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