Banks must use analytical models to assess all types of strategic, financial, and operational risks.
Here we go again. Banks ought to have the best risk management. But whatever safeguards were in place didn’t prevent Silicon Valley Bank from failing, destroying over $40 billion in shareholder value, and forcing unprecedented government intervention to protect depositors.Banks use the “three lines of defense” model for risk management and governance. The first line represents the decision makers.
While much remains uncertain around what exactly went wrong with SVB and why, we at least know the right questions to ask. These questions will likely underscore the importance of having a strong and independent CRO, qualified directors on risk committees, clear risk appetite and mitigation strategies, appropriate risk disclosures, and effective regulatory oversight.
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