Aside from the Internet, few issues in the financial services industry have commanded as much attention in recent times as that of enterprisewide risk management. Fewer still are as significant to a financial institution's profit motive.

While the infamous collapse of Barings and several other trading- related losses of scandalous proportion sent shock waves around the financial services industry, the events did little more than scare most money center bank CEOs into eyeballing current operational risk management controls in an attempt to ensure that their respective institutions didn't turn up on the evening news. Only a handful of risk pioneers-CIBC, Bankers Trust, J.P. Morgan, Commerzbank and DG Bank-have been focusing on the implications, from a strategic risk management (SRM) point of view, of integrating market and credit risk.

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