C为什么错了

问题如下：

he risk management committee at a US-based bank has appointed a risk consultant to help the committee implement an ERM program. The consultant provides advice on how to set up an ERM framework that is consistent with industry best practices. Which of the following recommendations should the consultant make?

选项：

A.The bank should separate the decision-making processes of managing credit risk from those of managing market risk to ensure the proper management of its exposures to each risk. B.The bank should develop strategies used to manage enterprise-scale risks at the firm-wide level and implement them across the business lines. C.The bank should build a robust enterprise risk culture that is independent of the views of the board of directors on the value of the bank’s business activities in order to avoid any conflict of interest. D.The bank should discourage the integration of the risk management process with the balance sheet management process.

解释：

Explanation: B is correct. Firms need to articulate specific strategies for managing enterprise-scale risks at either the enterprise level or through the business lines.

A is incorrect. Each risk management approach should be viewed as one component of a total cost of risk, ideally measured in a single currency. The choice of component should be optimized as far as possible in risk/reward and cost/benefit terms expressed in that currency.

C is incorrect. A strong risk culture is built from a pervasive sense of common goals, practices, and behaviors. Risk culture sounds intangible, but a strong risk culture is a firm’s surest handle on ERM in the same way that a strong safety climate minimizes accidents in physical industries. Risk culture is multilayered which includes the stated targets of the organization (e.g., risk appetite and values).

D is incorrect. Under an ERM program, risk management is increasingly integrated with balance sheet management, capital management, and financing strategies.

Learning Objective: Explain best practices for the governance and implementation of an ERM program.

Reference: Global Association of Risk Professionals. Foundations of Risk Management. New York, NY: Pearson, 2023, Chapter 8, Enterprise Risk Management and Future Trends [FRM-8].