Enterprise Risk Management in the Financial Services Industry: International Benchmark Survey May 2007
This survey reveals that financial institutions are continuing to invest in ERM. Riskbased Regulations--such as Basel II, Solvency II and Anti-Money Laundering--have acted as catalysts for ERM-related investment. However, this investment is often a reaction to "silo-based" compliance requirements and not part of a structured strategic initiative. Integrating the tactical compliance projects into an overall ERM program remains the key challenge.