CBA’s risk overhaul could take five years, inquiry told

Original article by James Frost
The Australian Financial Review – Page: 8 : 31-May-18

The Commonwealth Bank of Australia’s risk management practices came under scrutiny by the banking royal commission on 30 May. Chief risk officer David Cohen conceded that the bank’s risk function is still inadequate and warned that changes to its risk management systems will not be fully implemented for up to five years. He also expressed the view that CBA needs to "return to the basics" with regard to its risk function.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, BANKWEST, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

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