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Risk governance of financial institutions: The growing importance of risk appetite and culture

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  • Gontarek, Walter

Abstract

Risk governance is increasingly a core responsibility of board members of financial institutions. While each firm may adopt its own specific approach, key elements of risk governance include board-level risk committees, empowered chief risk officers, the use of risk appetite statements, and establishing a robust risk culture. This paper scopes these developments and highlights the growing importance of risk appetite statements and culture as two increasingly prominent elements of risk governance.

Suggested Citation

  • Gontarek, Walter, 2016. "Risk governance of financial institutions: The growing importance of risk appetite and culture," Journal of Risk Management in Financial Institutions, Henry Stewart Publications, vol. 9(2), pages 120-129, March.
    • Handle: RePEc:aza:rmfi00:y:2016:v:9:i:2:p:120-129
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    Citations

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    Cited by:

    1. Tuncer Yılmaz & Bülent Yıldız, 2022. "Yatırımcıların Risk İştahı Endeksi İle Korku Endeksleri Arasındaki İlişki: Türkiye’de ARDL İle Ampirik Bir Uygulama," Journal of Research in Economics, Politics & Finance, Ersan ERSOY, vol. 7(3), pages 646-676.
    2. Walter Gontarek & Yacine Belghitar, 2018. "Risk governance: Examining its impact upon bank performance and risk‐taking," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 27(5), pages 187-224, December.

    More about this item

    Keywords

    risk governance; boards of directors; risk appetite; culture and conduct;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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