Sifma members lose confidence in risk capabilities
A declining number, falling below 5%, of Sifma member firms are comfortable with their risk management capabilities, according to an updated survey of 240 Wall Street participants conducted by IBM, issued at the Sifma Financial Services Technology Expo 2010.
The percentage had been 5% before the financial crisis of 2008 and has dropped below 1% in the most recent update, said Suzanne Duncan, industry leader, financial markets, at the IBM Institute for Business Value.
The survey participants were about half IT professionals and half line-of-business professionals, according to Duncan, and about half small and mid-size firms and half large firms. Large firms were defined as having more than 5,000 employees, mid-size firms had 1,000 to 5,000 employees
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