Naslov
Risk Management at the Strategic and Operational Levels of Swiss Banks: Current Status and Lessons Learned from the Subprime Crisis

Autori
Oblaković, Goran

Vrsta, podvrsta i kategorija rada
Ocjenski radovi, doktorska disertacija

Fakultet
School of Management, Economics, Law, Social Sciences and International Affairs

Mjesto
St. Gallen

Datum
18.09

Godina
2012

Stranica
229

Mentor
Prof. Dr. Müller, Roland

Neposredni voditelj
Prof. Dr. Hilb, Martin

Ključne riječi
Switzerland ; banks ; risk ; risk management ; corporate risk management

Sažetak
Risks management became a highly discussed topic in recent years, as news about numerous bank failures and bailouts keep dominating the media. Although banks and insurance companies have always been leaders in implementation of the most extensive and efficient risk management models, numerous weaknesses of risk management were exposed during the subprime crisis. Regulatory changes have been the main driver and influence on risk management practices ever since. This study reviews theories and models on operational and strategic risk management, as well as the main frameworks and regulations on risk management. The study focused on all Swiss banks and the results were conclusive that risk management in Swiss banks changed significantly since the crisis. Banks implemented significant structural changes - which were different based on the size and activity of a bank - while behavioral changes seem to be taking longer. The evidence shows that Corporate Risk Management (CRM) is becoming more holistic, more independent, less dependent on models and more integrated since the crisis. The study confirms that there is a clear shift from CRM by numbers to holistic CRM. That is obvious as banks of all sizes are considering all risks (including non- quantifiable risks), and adopting a more systematic and strategic view of risks. The results indicate that a fully integrated model of Corporate Risk Management, which includes integration with corporate governance and other dimension, has been implemented in the biggest banks. The study concludes that risk management is becoming an integral part of strategy formulation. Finally, how to implement a risk management culture remain to be the most significant issue, but also the most significant improvement opportunity in the field of risk management.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija, Interdisciplinarne društvene znanosti

POVEZANOST RADA