Enterprise Risk Management -- Canadian Best Practices: How Did They Get There?

Journal 42, The Capco Institute, Journal of Financial Transformation, Oct. 2015

108 Pages Posted: 22 Oct 2015

See all articles by Lois Tullo

Lois Tullo

York University - Schulich School of Business

Date Written: October 20, 2015

Abstract

Canadian banks are now ranked at the top of Bloomberg's strongest banks. But the question is: how did they get there? To understand this, it may be helpful to examine how enterprise risk management (ERM) has evolved in Canada. This article illustrates the development of Canadian bank ERM best practices, and suggests three possible factors that may have led to ERM best practices in Canada. First, a beneficial environment of strong regulation and economic stability, second, burning platforms of substantial loss events which lead the leadership of Canadian banks to prioritize ERM, and third, the examples of ERM best practices capabilities of people, processes, systems, and data at each of the five Canadian banks.

Keywords: Risk management, regulation, best practices, banking, financial services

JEL Classification: G2, G21, H6, L5, M2 ,N2, N20, O16, O23, O51

Suggested Citation

Tullo, Lois, Enterprise Risk Management -- Canadian Best Practices: How Did They Get There? (October 20, 2015). Journal 42, The Capco Institute, Journal of Financial Transformation, Oct. 2015, Available at SSRN: https://ssrn.com/abstract=2676650 or http://dx.doi.org/10.2139/ssrn.2676650

Lois Tullo (Contact Author)

York University - Schulich School of Business ( email )

4700 Keele Street
Toronto, Ontario M3J 1P3
Canada

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
375
Abstract Views
2,081
rank
101,680
PlumX Metrics