Basel Committee calls for dialogue on ERM
MONTE CARLO – Ryozo Himino, secretary general of the Basel Committee on Banking Supervision, called on bankers and regulators to engage in a constructive dialogue to achieve the dream of real enterprise-wide risk management, in a keynote speech at the Global Risk Management Summit in Monte Carlo in late April.
He said the Basel Committee had purposely taken several different approaches when engaging with the industry to find out what types of dialogue worked best. For example, he said the trading book project was an "evolutionary framework", while the approach to operational risk was more focused on "integration with the business processes". Basel II’s advanced measurement approach "especially intended
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