Risk: The New Management Imperative in Finance

Developing GRM: What Works, What Doesn't 16

I love it when Jean Luc Picard says, “Make it so.” His words trigger frenzied but wonderfully coordinated activities. Within minutes those charged with “making it so,” through adroit and sometimes creative work at their highly engineered control stations, deliver full functionality, on budget, and always just in time. If only it could be that easy with any aspect of risk management. Here are guidelines on how to “make it so” in our world.

THE CHASE EXAMPLE

The story at Chase Manhattan Corporation is still unfolding. Here is what had happened through 1999. In early 1998, Chase Manhattan Bank completed building a global risk management process that is closer to the global risk model than that at any other ...