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| "One of the main lessons that the current economic and financial crisis really taught us is that the role of risk management within financial institutions should be rethought. The natural reaction of the industry, battered by unforeseen extreme losses, is either to downplay the role of risk management or, in the opposite, to exacerbate the same errors made pre-crisis. What we need right now is to develop a proper risk governance that allows risk management to participate in strategic decisions. This is a crucial moment in risk management, and we can only succeed by increasing risk management education within the firms not just to risk managers but to a much wider and senior audience." |
| - Dr Marcelo Cruz, New York University Professor, Senior Advisor to Boards and Executives of Financial Institutions |
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