Andrew Kakabadse, Paul Moore and Dominic Carter gave this presentation on a risk survey they conducted at Risk Minds, the world's largest risk management conference on 8th December 2009. Findings include: - executives to blame for financial crisis - cultural problem at banks NOT a regulatory problem (the cost to benefit of risk taking is not weighted correctly; - remuneration too high; culture does not encourage effective change management - Executives should have a right to tell their side of the story though - full report due in Jan 2010 so check back at http://www.kakabadse.com

1. The RiskMinds Risk Managers Survey 2009 The results of an anonymous survey of risk professionals into the causes and implications of the 2008 banking crisis Paul Moore, Professor Andrew Kakabadse & Dominic Carter 8 th December 2009

17. Risk Survey Actions Conservatives Radicals CRO reporting to NED 15% 55% Employment Protection for Risk Managers – invite challenge 23% 89% Reduced reliance on Maths Risk Models 32% 78% Regulate Credit and Liquidity Risk Management 22% 95%

18. Risk Survey Actions Conservatives Radicals Stricter authorisation for NEDs 23% 90% Risk reports to NED for independence 15% 70% Sign off by Regulator to oversight/assurance plan 15% 75% Supervision of risk culture/ethics 49% 89%

21. Board Dynamics (UK) /NEDs Executives v NEDs

24. Russian Directors

25. South Africa Directors

26. South Africa Directors

27. South Africa Directors

29. Board Dynamics (Australia) Board Performance - shared/cohesive views