Financial Risk Management Governance
Introduction
By now it should be clear that proper financial risk management can add significant value to an organization. However, like most things of great usefulness, it needs proper governance or oversight. When financial risk management first became prevalent in the early 1990’s, the proper level of governance was often lacking. As a result, there were several prominent risk management debacles. In large part, the debacles were caused by derivatives. However, derivatives are simply tools for financial risk management; whether that risk management is for speculative purposes or for supporting the objectives of a nonfinancial firm. The problem was not derivatives, but governance. The financial ...
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