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Risk Management at the Strategic and Operational Levels of Swiss Banks: Current Status and Lessons Learned from the Subprime Crisis
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Risks management became a highly discussed topic in recent years, as news about numerous bank failures and bailouts keep dominating the media. Although banks and insurance companies have always been leaders in implementation of the most extensive and efficient risk management models, numerous weaknesses of risk management were exposed during the subprime crisis. Regulatory changes have been the main driver and influence on risk management practices ever since.