Incremental changes over the past decade have led to a revolution in the field of risk management. The adoption of market-consistent techniques to value liabilities, the introduction of risk-sensitive frameworks in many markets, an increased awareness of economic risks and returns, the development of products with guarantees and the use of more sophisticated modeling techniques have all changed the way financial services businesses operate from a risk and capital perspective. This paper outlines recent changes in different markets worldwide.
The revolution in risk management
ByWade Matterson
1 June 2010
The revolution in risk management