Risk Management 2022
Risk Management Benchmarks 2022 – presentation
Central Banking’s Victor Mendez-Barreira on emerging risks, risk management departments and influential risk approaches
Risk management salaries tend to increase with team size
Median salary among respondents was $30,000
Responsibilities and risk management changed at 43% of central banks
Responsibilities modified over last two years required parallel developments in risk management
Minority of central banks define project risk appetite
Institutional risk and delegated risk appetites defined more often
Financial risk most staffed function
Risk management team sizes vary considerably between central banks
Over half of central banks have a chief risk officer
Most have a risk management committee
Minority of central banks use GRC platforms
RSA Archer and SAP named as providers
ISO 31000, COSO-ERM are influential risk management approaches
IOWRG, Basel and NIST also used by central banks
Over half of central banks modified collateral policies during the pandemic
Most reduced haircuts on banks’ collateral
Few central banks cover environmental risk
Central banks list environmental risk as a minor source of risk
Cyber security risks rose most in the past year
Operational and market risks also increased
Reputational risk tops central bank concerns
Cyber security and credit/counterparty risk followed