The Wall Street Journal – Risk Experts on Bank Boards Must Be “Real Leaders”
Just over 40% of the top 35 US banks comply with Dodd-Frank Act requirements to have a qualified risk-management expert on their board and a separate risk committee, reports The Wall Street Journal citing a recent survey by Egon Zehnder. When recruiting such experts, Egon Zehnder consultant Lisa Zonino advises banks to look at the complexity and type of risk they have worked with, and to ensure that candidates fully understand the current regulatory environment. Potential risk experts also require a strategic outlook and unimpeachable integrity, she adds. “The person on the board needs to be a real leader,” warns Zonino. “When you add that to the competencies to being a good risk manager…it’s hard to find good people, but not impossible.”
Full story: Ben DiPietro: Risk Experts in Demand to Serve on Bank Boards in The Wall Street Journal (17 July 2015).