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After Crisis, Risk Officers Gain More Clout at Banks
Keywords:
Chief Risk Officers join senior management ranks by joining the senior management committee at banks such as Goldman Sachs. The change is part of the effort to make operations safer and simpler and avoid the huge legal settlements banks have faced in 2012-2014.
Increasing clout of risk officers at banks in 2014 as Chief Risk Officers join senior management committees
06/26/2014
The drive to make operations safer and avoid violating regulations brings chief risk officers into senior management to make the changes needed. The change will make bank operations simpler, less complex and more transparent.
Grouped Articles
After Crisis, Risk Officers Gain More Clout at Banks
Wall Street Journal 06/26/2014
Bank of America's Chief Risk Officer
07/09/2011
Grouped Articles
After Crisis, Risk Officers Gain More Clout at Banks
Wall Street Journal 06/26/2014
BofA Names Laughlin as Risk Chief
Wall Street Journal 07/09/2011
BofA Again Faces Capital Conundrum
Wall Street Journal 07/12/2011
Bank of America Shares Fall to Lowest Point in Two Years
New York Times 08/09/2011
$335 Million Settlement on Countrywide Lending Bias
New York Times 12/21/2011
Wall Street Journal 12/27/2011
The sweeeping remake of JP Morgan Chase's regulatory, control and compliance effort under CEO Dimon in 2013-2014
09/13/2013
The response has to measure up to the problem. This is the statement CEO Dimon is making with his complete remake of the compliance and control effort at JP Morgan Chase, putting it on even keel with the business chiefs, something other banks have still to do. Prodded by regulators CEO Dimon has now put the personal weight of his convictions behind the effort, in an effort to preserve his legacy of wise stewardship of the bank.
Grouped Articles
Embattled J.P. Morgan Bulks Up Oversight
Wall Street Journal 09/13/2013
Dimon Vows to Fix JP Morgan's Compliance Problems
New York Times 09/17/2013
JP Morgan Reported Third Quarter Loss on Legal Costs
New York Times 10/11/2013
Record Pact Is on the Table, But J.P. Morgan Faces Fight
Wall Street Journal 10/21/2013
A $13 Billion Reminder of Whatâs Wrong
New York Times 10/26/2013
JPMorgan Chase CEO Jamie Dimon’s complicated relationship with Washington - The Washington Post
Washington Post 11/03/2013
A behind the scenes account of JP Morgan Chase CEO Jamie Dimon's discovery and response to large losses
01/15/2010
Dimon's first encounter with the losses at the bank was through an account of Chief Investment Office trader Iksil's trades in the Wall Street Journal on April 6, 2012. The trader was referred to as the "London Whale" and large losses were mentioned. This has raised questions about whether banks of the size of JP Morgan can even be effectively managed by a CEO. The decision by the U.S. Federal Reserve, Treasury and regulators to encourage the merger of failed financial firms Bear Stearns and Washington Mutual with JP Morgan Chase- ostensibly because no mechanism to wind down such firms existed- not only created a mega bank but also created additional risks from banks too big to manage.
Grouped Articles
Wall Street Journal 05/04/2013
'London Whale' Penalties Put at $500 Million to $600 Million
Wall Street Journal 08/28/2013
Embattled J.P. Morgan Bulks Up Oversight
Wall Street Journal 09/13/2013
Dimon Vows to Fix JP Morgan's Compliance Problems
New York Times 09/17/2013
New York Times 10/15/2013
J.P. Morgan Reaches $13 Billion Tentative Deal with Justice Department
Wall Street Journal 10/20/2013
Role of Compliance Officers, Chief Risk Officers at Banks and large corporations after large legal settlements
01/17/2014
Grouped Articles
More Compliance Chiefs Get Direct Line to Boss
Wall Street Journal 01/17/2014
After Crisis, Risk Officers Gain More Clout at Banks
Wall Street Journal 06/26/2014
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