Aligning risk and strategy can help financial institutions more effectively manage their strategic imperatives, especially in today's uncertain world. Often those two metrics are tracked separately in the siloed goals of the chief risk officer and the chief strategy officer. But if strategic imperatives are not mapped to underlying impeding risk factors, it's like taking the time to mix the ingredients for a cake but forgetting to turn on the oven. You will not get the intended results.
As 2022 gets underway and further uncertainty looms, here are four things to keep in mind when mapping strategy to risk.
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