Most of those polled thought senior management changes were needed to prevent another crisis
Only 35% of risk professionals agree their institution has the right team in place to manage their risk effectively.
In an online poll, risk management consultancy GRC asked approximately 500 risk professionals: Do you feel your organisation needs to make senior management changes to manage its risk effectively over the next 12 months?
Only 35% (172) said no.
Richard Lumley, managing director of GRC said: ‘It’s clear that there’s a lot of discord in the risk profession at the moment and a lot of people are pointing the finger at senior management; but as is always the case in crises such as these, it’s easier to blame a face or strata of management than a culture. All too often, that culture has been fashioned by individuals outside of the risk teams that took part in our survey. That said, the last few months have highlighted the ever-increasing need for tighter controls and a more strategic contribution from risk functions at Board level.’