Paradeplatz in Zürich (Picture: Keystone)
Monday, 12 July 2021 07:13
Large Gaps in Swiss Risk Management Practice
Risk management at Credit Suisse is in the spotlight after the twin Archegos and Greensill fiascos. But the fundamental reasons behind them could lie much deeper than the incidents themselves given the banking sector is reliant on questionable control practices.
It has been almost a year since Credit Suisse restructured its internal control framework. At the time, this mostly had an impact on its second line of defense, as the bank indicated.
Then chief risk officer
Lara Warner took over the compliance function as the new Chief Risk & Compliance Officer (CRCO). Bank management under CEO