Bank risk management weaker in Asia-Pacific, study shows

The connection between risk management and corporate strategy is generally weaker in banks in the Asia-Pacific region than in more developed markets, according to a study by credit rating agency Standard & Poor’s (S&P).

Asia-Pacific banks participating in the study revealed a lower level of involvement by their board and executive committee in creating risk management vision, Ken McLay, head of S&P’s risk solutions group in Asia, said in Shanghai.

He was speaking at the Asian Development Bank’s annual meeting and referring to an S&P inaugural risk management benchmarking study. More than 50 banks from North America, Europe and the Asia-Pacific region took part in the study, which covered risk governance and