Traditionally, financial firms have categorized and managed the various risks inherent in their businesses in separate silos. But, as this approach proves inadequate, many firms are working to obtain a clearer picture of their exposure to all types of risk by implementing enter-prisewide risk management systems. Enterprisewide risk management is the ability to look at where risk lies across an organization and analyze and aggregate it in order'to better understand how it can be mitigated. It's a concept that has been around for some time, but only now is getting the attention it deserves, according to Larry Tabb, CEO and founder of TABB Group, a Westborough, Mass.-based financial advisory firm.
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