Banks at Risk: Global Best Practices in an Age of Turbulence

ISBN: 978-0-470-82719-2
256 pages
July 2011
US $76.00 Add to Cart

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Business & Finance, Jossey-Bass

September 16, 2011

A comprehensive survey of expert analysis on paving the way forward for the global financial industry.

How can the financial sector devise a better system of properly-managed risk? How can industry practices be fundamentally reconfigured to avoid the domino effect that can ravage entire economies? Have players in the financial trade truly grasped the lessons to be gleaned from previous meltdowns and imbibed them sufficiently to avoid another disaster like the global financial crisis in the future?

Peter Hoflich, managing editor of The Asian Banker, provides a comprehensive review of these crucial questions pertaining to the current state of risk management.

Banks at Risk marshals the in-depth insights of 10 thought leaders in the financial services industries – regulators, commercial bankers, risk managers and infrastructure specialists – on the strategic and operational issues involved in purging toxic elements from these sectors to enable a evolution to a healthier system of responsibly-managed risk.

These opinion makers are some of the top names in the banking industry. The book divides their perspectives into three sections:

The Regulators” features those who oversee large state-owned banks or troubled medium-sized banks under the Organisation for Economic Co-operation and Development (OECD). Among them are Liu Mingkang, who helms the China Banking Regulatory Commission, a newly established authority that manages the world’s biggest, most profitable, fastest growing and systemically important banks. President of the Federal Reserve Bank of Boston, Eric Rosengren, shares his perspective on regulating banks in six US states and his experience as a voting member of the Federal Open Market Committee, which oversees the US’s open market activities.

Under “The Practitioners”, those who successfully weathered the financial crisis share their battle stories. Richard Kovacevich, former chairman and CEO of Wells Fargo, shielded his bank from the mortgage real estate fallout that devastated so many others, while Mike Smith, the current CEO of ANZ in Australia, reveals the lessons learned from his previous post at HSBC and how to transfer this learned knowledge from one bank to another. Meanwhile, Shan Weijian, chairman and CEO of Pacific Alliance Group, mines the insights from his formidable experience in private equity to suggest how to transform failed banks into leaders of the pack.

Finally, “The Risk Managers” presents the acumen of leaders such as Rob Close, former CEO of CLS Bank, who speaks about creating a global framework and infrastructure for alleviating risk. Tham Ming Soong, chief risk officer of UOB Bank in Singapore, offers on-the-ground observations on implementing risk management culture in an institution and Ysuyoshi Oyama, Partner, Financial and Industries Group, Deloitte Touche Tohmatsu, and former deputy director-general in the Financial Systems and Bank Examination Department of the Bank of Japan, unveils his thoughts on global regulatory reform and key global accords such as the Basel Accords.

The collective wisdom and experience presented by the leading practitioners in Banks at Risk provides hope that the missteps of the past can be avoided in the future and that building a sustainable tomorrow for the global financial industry is a very real possibility indeed.