Risk management becoming focus of bank boards

The majority of the boards of directors for large banks are spending significantly more time on risk management, according to a new survey.

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The survey, which was conducted in January using risk officers and directors at banks with more than $5 billion in assets, said 91 percent of those surveyed reported an increase in time devoted to risk management issues within board meetings over the last three years.

Seventy-two percent of risk officers and 63 percent of directors report that this time has doubled or tripled.

What is your board's position on risk management?