After September 11, companies and institutions around the world reevaluated their business continuity plans based on a new awareness of weaknesses. Strengthened operational resiliency was the outcome. What will be the outcome of today's recession and preceding financial crisis?
A risk-based culture, defined by a new level of risk awareness and responsiveness, is already emerging. A risk-based culture neither implies risk aversion nor the other extreme—incentivizing unwise risk taking. Rather, it means a balanced approach that strives for an integrated understanding of risk and approach to risk management. It cultivates risk responsiveness at all organizational levels, values and demands transparency, and evokes behavior aligned with sound business growth. We believe this cultural shift is now underway. The R-Generation represents a new kind of business and financial manager, who embraces this balanced approach.
Register to download our white paper—R-Generation: An Integrated Business Approach to Managing Risk—to learn more about J.P. Morgan's risk management philosophy and approach from the perspective of its Global Treasury Services business. The paper provides practical tips for improving risk management as a cultural discipline and discusses risk management developments within the context of the treasury management domain.
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