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American Banker Research conducted a detailed online survey of 49 risk management executives from our readership as part of the inaugural C-Suite Series. The respondents included risk managers from banks with over $10 billion in assets all the way down to institutions with less than $100 million in assets. Questions covered topics from where risk officers devote the most attention to what roles they see themselves taking on next. The survey reveals executives' significant focus on regulatory risk and that boards are being responsive to concerns raised by chief risk officers. Here are highlights from the research.
Compliance Demands Pile Up
When risk managers were asked to rank how much time they allocate to various responsibilities, regulatory compliance drew the most attention. Respondents on average said compliance issues take up nearly a quarter of their time, followed by managing credit risk (18.4%) and managing operational risk (13.3%).