Standard Risk Management Practices Across the Enterprise

The larger the organization, the more challenging it is to manage risks, design, implement and evaluate internal controls, collaborate across functions, and standardize risk management practices across the board.

Despite having a great variety of activities, some represented by different business units, this Banking Group nevertheless recognizes the importance of having common risk management practices across all entities for three reasons:

1) Consolidate results across all entities and make accurate comparisons

2) Leverage existing controls for newly-identified risks, rather than duplicating them

3) Develop action plans aligned with controls and risks