Boards are well advised to press management to maintain – and where necessary increase – investment in risk IT systems, both as a short-term priority and as part of a long-term strategic initiative. Risk IT investments must not be sidelined by necessary upgrades to finance and customer data systems. Instead, they must be integrated and prioritized.
Recent economic developments Following the sharp downturn in 2008 and the first half of 2009, real economic activity has now been expanding for more than two years (chart 1). However, the recovery has not been as strong as might have been expected given the steepness of the contraction. Early last year it threatened to stall out altogether.