Only a small, elite group of organizations have been identified as Risk Masters, based not only upon their capabilities but also upon their financial performance and future aspirations.
Risk Masters typically have a Chief Risk Officer and a pervasive culture of risk management. They have more board involvement and are more focused on emerging risks. They face fewer impediments than non-Masters, from lack of engagement with senior management to the absence of skilled talent in the risk functions. They are ahead of the curve on analytics, and they are better at recruiting, retaining and training staff.
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