The new thrust of the regulatory agencies in the management of risk is a very real positive in the banking industry. It reinforces the efforts already under way among cutting edge banks. Unless the culture is supportive, this change will not work.
How management of risk is undertaken is all-important. Unfortunately, some approaches will be window dressing only. Some will present proper theory but poor practice. Most, it is hoped, will understand what the dynamics of the change require and will aggressively pursue these avenues.