Non-Financial Risk Management Insights Series
Implementing an integrated framework for financial institutions
We are pleased to welcome you to BUCF's Non-Financial Risk (NFR) Insights series. The series serves as a continuation of our original Point of View: The pressing case to design and implement a Non-Financial Risk Management Framework.
Issue # 1 – Risk Taxonomy and Risk Identification
A thorough analysis of a bank’s risk profile that takes into consideration its business model and strategic direction is a fundamental prerequisite of an effective risk and control management framework; it necessitates a comprehensive risk taxonomy and a dynamic Risk Identification process.
What's next in 2018?
Extend risk appetite frameworks across non-financial risks and ensure accountability by cascading to line of business level, timely monitoring and tangible management actions and limit framework
Selecting and deploying a common infrastructure to link processes to controls and support measurement and management of risks, while enhancing automation and transparency
Creating a common reporting framework, where risks are monitored and communicated consistently across all lines of defence
Measurement & Monitoring
Perspectives to deploy qualitative and quantitative methodologies in order to measure and monitor NFRs
Supervision & Control Model
Ideas to leverage a rationalized inventory of controls across a wider spectrum of risks and processes
Adapting the existing governance model to include NFRs, with clear responsibilities across all risks
Our Insights Series by Deloitte's Banking Union Centre
About the Deloitte Banking Union Centre in Frankfurt (BUCF)
Europe’s most ambitious integration project since the euro.
The Banking Union initiative represents a fundamental innovation in supervision of financial services with significant consequences for the structure of the banking sector in the Eurozone and beyond, affecting business models and strategies.
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