Risk management is one of those buzzwords that seems inextricably linked to the financial crisis. That's understandable given that risk management practices at top broker dealers have been exposed as woefully antiquated. But Accenture reminds us that risk management extends far beyond the financial suite. It cuts across all operational, financial, IT and strategic units. What you really need is a czar--and for many firms, a major cultural shift. 

Accenture argues, "Risk management must be elevated in importance, a risk-based decision-making culture must be supported, and the relationship between risk management and performance management must be recalibrated. Executive management should ensure that risk management is at the forefront of decision-making and that it is consistently applied across the organization," according to commentary in Business Week. 

For more:
- here's the commentary

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