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Linking performance and risk management to execution can help banks outperform
Finding and Connecting the Missing Link
In the increasingly complex area of finance, risk and regulatory management for global banking, Accenture research and client work has established that high performance banks recognize the importance of linking enterprise performance management (EPM) with enterprise risk management (ERM) to ensure the successful execution of their overall business strategy.
This link centers on the three essential aspects of high-performance banking. They are:
Research conducted by the Accenture banking industry and finance and performance management teams underscores the view that by aligning individual rewards with the EPM framework banks can sync behavior and decision-making with business strategy. In addition, a vital element of successful EPM in financial services is the inclusion of enterprise risk management as a means to ensure that business performance reflects the various risks carried as well as the returns generated.
The challenges presented across today's highly regulated and competitive financial services landscape make developing a robust EPM framework and integrating the core elements of ERM into it something more than just a matter of good business practice. Now, establishing such a link is the foundation of effective regulatory compliance and a key contributor to high performance.
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August 1, 2007
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