RiskMinds Risk Managers Survey 2009

Last week I gave the following presentation with Paul Moore and Dominic Carter at the RiskMinds conference. It highlights the results of an anonymous survey of risk professionals we conducted, looking at the causes and implications of the 2008 banking crisis.

Our findings include

• that executives are to blame
• that it was a cultural problem at banks, NOT a regulatory problem (the cost to benefit of risk taking is not weighted correctly)
• that remuneration was too high and that culture does not encourage effective change management
• that executives should have a right to tell their side of the story

We’ll post our full report when it’s released in January.