Prevailing market conditions in the wake of the credit crunch are providing plenty of challenges for risk professionals in the asset management industry. The threats of financial losses, investor redemptions and reputational damage are making risk management a more important discipline than ever before.

In such an environment, we believe that careful thought about future developments and possible improvements in risk management should be extremely valuable for the asset management sector.

Ernst & Young have therefore canvassed the views of senior risk managers from a range of leading firms, with a view to comparing their opinions and offering a barometer of sentiment across the industry.

In conducting this survey, 23 chief risk officers and heads of operational risk management were interviewed, representing many of the largest investment management firms with risk functions located in the UK. The interviews covered strategy, governance, risk types, risk systems, staffing, management information and other current topics. Interviews were questionnaire based but also gave respondents scope to offer their full opinions in confidence, for which we are very grateful.

The result is a range of quantitative and qualitative survey findings, which form the bulk of this publication.

To view the report, please click here