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Bankers confer on risk management
Senior managers of international banks and financial institutions and financial advisors gathered in Ho Chi Minh City last week to compare notes on reducing risks amidst the economic recession.
The meeting, organized by IFC, a member of the World Bank Group, aimed at helping banks in the East Asian and Pacific regions improve risk management by reviewing their business strategies and promoting good governance practices in response to the current global economic crisis.
Serge Devieux, IFC’s Senior Manager for Financial Markets, said the need for improving risk management “has become much more eminent.”
“Buoyant markets and complacency diverted attention from predictable cyclical corrections and their devastating impacts,” he said.
“We must re-think the way we do business and manage risks. There is a great call for instilling a risk culture as a top priority.”
The seminar also covered risk-measurement methodologies that illustrated how best to assess vulnerabilities and identify and prioritize issues so that banks can be prepared to deal with the effects of the global crisis on local markets.
Minh Quang
thanhnien
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