Structural risk issues within financial institutions are no different now than they were when Barings collapsed in 1995, Basel I was negotiated, Long Term Capital failed in'l998, the dot-com bubble burst in 2001 and the credit markets crashed in 2008. Yet after billions of dollars of technology, structural and deployment investment, Wall Street firms still lack uniform RSA, or "risk situational awareness" - that is, knowing the risk exposure within operations now - as well as a resulting lack of understanding of "horizon risk," the risk associated with potential upcoming events/surprises.
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