Investment firms boosted their risk controls over 2020 as a result of the coronavirus pandemic, with additional stress testing and monitoring put in place in response to the crisis, according to a KPMG survey.
KPMG's sixth annual survey of risk and Internal Capital Adequacy Assessment Process (ICAAP) benchmarking, which covered 40 investment management firms of varying size, revealed that 92% of firms took "some form of action" to assess the impact of the pandemic. Planning for tighter liquidity risk management rules Additional stress testing was undertaken by 65% of firms, while 40% said they increased their level of monitoring over financial and liquid resources. Just over a quarter of firms (28%) saw an increase in operational risks events, with 15% reporting an increase in the size o...
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