Webinar - SVB collapse: The Importance of Strong Regulatory Reporting Systems
The need for stronger risk management practices in the banking industry has become more apparent with the recent collapse of SVB, Credit Suisse, Signature Bank and the bank-led rescue of First Republic Bank.
This has highlighted the risks posed by smaller lenders and the importance of prioritising risk management practices that identify and mitigate potential risks before they become crises. Compliance with regulatory requirements is also crucial.
To strengthen the global banking system and prevent future crises without taxpayer bailouts or widespread economic damage, there is still much work to be done.
This includes:
- Simply complying with regulations won't cut it in today's volatile banking industry. To safeguard against crisis, banks must go above and beyond with comprehensive risk management strategies.
- A strong risk management framework can help banks identify and mitigate potential risks before they turn into crises. This requires a proactive approach to risk management, rather than a reactive one.
- Banks must be transparent in managing risks to gain stakeholders' confidence. Regular reporting and disclosure are vital to building trust.
Learn more in our webinar featuring financial risk and regulation experts - Jason Wang, Chief Risk Officer, Allstate Canada and Anh Chu, Head of Risk & Regulatory Reporting, Suade.