WASHINGTON — Banks hurt by the fallout from the financial crisis have made strides in addressing weaknesses in their risk management practices, but more work still needs to be done, according to a recent survey of global firms by Ernst & Young.

Over the last several years, institutions have taken steps to reassess their capital structure across businesses, used stress testing and put into place new models to spot potential risks and impacts on the entire organization. Boards have strengthened their influence on risk management practices at the firms, and the role of the chief risk officer has continued to expand.

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