The SSG report highlighted solid senior management oversight and engagement as a key factor that differentiated performance during recent events. Clearly, senior management must take on a very active and involved role in risk management.
Although this may seem somewhat obvious, a few recent cases demonstrate, unfortunately, that senior management may not always exercise proper oversight and may not have been as engaged as would have been wise. As supervisors, governance and controls is a key feature we look at in assessing risk management at an institution.