On December 10, 2015, DTCC President and CEO Michael Bodson spoke at the opening of the 2015 DTCC Risk Forum held in New York City.
Good morning and thank you all for joining us today.
Earlier, you heard about the evolution of risk management and, in particular, the expansion of the remit of the risk management function beyond the more traditional forms of risk. Nowadays, risk management includes operational, systemic, technology, vendor, and physical risk as well as business continuity management. However, I would like to add one more risk to that growing list – that is, the risk of losing the confidence of investors and the public.
I want to talk about the importance of restoring trust in financial markets because trust is essential for the industry’s long-term growth – and I believe risk management has a crucial role to play in this effort.