CRO series #5 – Insights from the 2023 US debt-ceiling crisis

Chief Risk Officers of Banks are currently keeping a close eye on the debt-ceiling crisis in the US. What are the risks banks face in case of a U.S. default? Welcome to post #5 of the CRO series. A recent article by MarketWatch highlights the growing concerns surrounding this issue and sheds light on the
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What are Canada’s top disaster risks?

What are Canada’s top disaster risks? In May 2023, the Government released its first National Risk Profile (NRP) providing a comprehensive overview of Canada’s top disaster risks. This inaugural report delves into key areas such as earthquakes, wildland fires, floods, and pandemics, offering invaluable insights to inform your risk management strategies and enhance your ESG
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ESG insights from Wells Fargo’s recent $1 billion settlement

Wells Fargo’s agreed to pay $1 billion to settle a class-action lawsuit filed by shareholders. The lawsuit accused the bank of overstating its progress in addressing governance issues and risk management systems following the 2016 fake-accounts scandal. Here are a few insights regarding the S and the G factors in ESG: ➡ Social: The lawsuit
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CRO series #4 – Cyber-risk to financial institutions

As the world becomes more digitized, cyber-risk has become a significant concern for banks and financial institutions. Cyber-attacks have the potential to cause significant financial and reputational damage, and as such, managing cyber-risk has become a top priority for chief risk officers in the banking industry. Welcome to post #4 of the CRO series. There
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Small business ESG strategy

Is Your Small Business Ready to Implement an ESG Strategy, but you don’t know where to start? As consumers increasingly demand that businesses prioritize their impact on the environment, society, and governance, small businesses can’t afford to ignore the importance of implementing an ESG strategy. Not only does it improve a company’s reputation, but it
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10 Strategies for attracting and retaining women in Finance and Capital Markets

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Are you looking to hire more women in finance and capital markets but struggling to find the right talent? Attracting and retaining more women in finance is not only the right thing to do, but it also makes good business sense. Studies have shown that diverse teams are more innovative, productive, and better positioned to
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CRO series #3 – Climate change risks

How should banks manage climate change risk?
For Chief Risk Officers (CRO) in the banking sector, managing the challenges of climate risk is among their top priorities. Welcome to post #3 of the CRO series. Climate risks can manifest in different forms, such as physical risks like natural disasters, and transition risks such as shifts in policy or market preferences. These risks
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Lessons from the rapid growth and subsequent failure of SVB bank

Did the rapid growth of SVB Bank contribute to its failure? Yes, it did. As the bank expanded its operations and became more complex, the board and management failed to effectively manage the associated risks, such as liquidity and interest rate risk. Additionally, short-term profits were prioritized over effective risk management, which resulted in compensation
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CRO series #2 – Risks from the increase in interest rates

For Chief Risk Officers (CRO) in the banking sector, navigating the current economic landscape is no easy feat. The recent rapid and steep increase in interest rates have added to their concerns. Welcome to post #2 of the CRO series. ▪ The recent increase in interest rates was a necessary measure to combat inflation. However, like
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CRO series #1 – Risk of a rapid outflow of deposits

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Top Concerns keeping Chief Risk Officers of Banks up at night – the CRO series – Post #1 Welcome to the first post in my series on the top concerns of Chief Risk Officers (CROs) in the banking industry. As recent events have highlighted new challenges, CROs have a lot on their plates these days.
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