Bank Risk Trends and Integrated Risk Management
Journal Title: Journal of Economics, Finance and Management Studies - Year 2024, Vol 7, Issue 15
Abstract
The very rapid development of technology, especially information technology, increasingly massive use of the internet and social media, hydrometeorological events/climate change, disease pandemics and very rapid environmental changes, have resulted in bank risks experiencing an increasing and increasingly complex trend. Several common risks, such as operational, credit, strategic, market, liquidity, legal, compliance and reputation risks which previously dominated bank risks, have increased and several new risks have emerged. These new risk trends include cyber risk, climate change, data privacy, third party collaboration/outsourcing. These risks must be integrated into all business processes and mitigated properly so that their impact can be minimized by implementing integrated risk management and effective governance. The implementation of good governance and supported by integrated risk management can encourage improvements in the quality of sound banking management, increase competitiveness, resilience and encourage sustainable growth
Authors and Affiliations
I Wayan Budi Artha
Keywords
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- EP ID EP730890
- DOI 10.47191/jefms/v7-i2-28
- Views 42
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