Financial Markets Recovery Project Launch Jakarta

by International Finance Corporation for the Global Corporate Governance Forum, March 2010

“Given the seriously disruptive impact of financial sector failures on the wider economy, the Forum was well inspired to launch its Financial Markets Recovery Project, which is aimed at improving capacity in bank boards of emerging countries. The ability of directors to recognize and apply sound principles should reduce the risk of reproducing mistakes that have brought about some of the disasters witnessed recently in even the most developed markets.“

Leo Goldschmidt
Honorary Managing Partner, Bank Degroof

Overview

The global financial crisis of 2007-2009 exposed significant weaknesses in corporate governance, and specifically risk governance, across the financial services industry. In response, the Forum launched its Financial Markets Recovery Project to help equip bank boards to lead with integrity, to hold the right skill sets to exercise oversight functions, and to properly manage risk. To do so, the project is deepening the risk governance module of its existing Board Leadership Training Resources program. The aim is to create self-sustaining board leadership training programs that address the unique challenges faced by directors of banks and financial institutions, thereby reducing their institutions’ vulnerability to future financial crises.

Supporting Banks in Emerging Markets

The Forum has developed supplemental materials, Governing Banks, as a training resource for bank board directors in emerging markets. The supplement is based on an extensive literature review, international consultations, peer reviews and interviews with directors, bankers, chief risk officers, regulators and independent experts reflecting perspectives from all regions of the world.

The supplemental materials form an integral part of the Forum’s Corporate Governance Board Leadership Training Resources, which has proven to be a major success in its global roll-out. It provides comprehensive material and guidance on all key aspects of board leadership, with particular emphasis on strategy formulation, financial controls, supervision and reporting, risk management, and corporate social responsibility.

As the supplement materials are rolled out globally, they will be contextualized to the particular market demands and regulatory framework where the Forum will support self-sustaining capacity for board training programs….(continue reading)

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1 Response to “Financial Markets Recovery Project Launch Jakarta”


  1. 1 Tania Lee November 18, 2010 at 11:04 am

    Well this is good info for me. Thanks for sharing this!


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