Risk management: a brief history: risk management has gradually evolved from a narrow insurance-based discipline to covering anything from traditional financial activities to the risk of a building burning down. But as Diana Thompson reports, the profession faces more changes to come. (Risk Management).

From: Journal of Banking and Financial Services | Date: June 1, 2003| Author: | Copyright information

To most businesses, the concept of risk management is confined to financial aspects such as liquidity, interest rate and foreign exchange movements and credit risk.

But the risk game is fast changing, with operational risk--covering anything from a computer meltdown to a terrorist attack--assuming much more importance.

This increased awareness has not happened by accident, even if a big mishap does tend to focus the mind of any manager. Behind the change in thinking is the relatively new Australian risk management standard AS4360 and the drafting of the global Basel ...

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