What Makes an Exceptional Risk Manager?
March 2005 As firms in the financial services arena better understand the significant risks they face, many are deciding to build or grow their risk management teams. Firms all across North America, Europe, and Asia added risk management staff in 2004. Coupled with the explosive growth of economies in Asia, this trend is expected to continue for the next decade. However, as the risk management field continues to mature, senior executives are becoming more selective as they look to hire these individuals who, in many cases, are relied upon to ensure the future existence of the firm. Risk management departments are called upon to set and monitor risk limits; build, validate, stress test and back-test data and models; work with regulators to provide assurance that financial markets and stockholders are being protected; and to assist the business units in looking at the next deal in light of the risks involved. Who are these essential people, and what backgrounds are firms looking for when
