Stronger together: CLS’s chief risk officer on risk culture
Deborah Hrvatin discusses integrated risk management, mega-hacks and model risk
The scale of the losses sustained by Credit Suisse when a now-infamous client defaulted in March shocked the financial industry. Many things went wrong at the bank to result in the haemorrhage of $5.5 billion, but one of the most unexpected was the fact that the person managing the risk posed to Credit Suisse by Archegos was a former sales and marketing executive, rather than a risk management professional.
A recently published tell-all independent report lists, among other missteps by Credit
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