Risk Management for Central Banks

Risk managers face the challenging task of ensuring that all possible risks are accounted for and prepared against. But, with central bank responsibilities becoming more far reaching, risks are not only evolving but expanding. As a result, more pressure is put on this already busy department to protect the central bank's sensitive information and important assets, without creating barriers to innovation. Aspects like an integrated corporate management framework, a holistic approach to risks and the presence of a risk appetite or culture is essential in preparing central banks against the changing nature of risks.