For two decades, risk management has been gaining ground in banking, despite a series of corporate failures, large-scale losses, regional crises, and a worldwide financial crisis that have been cast as risk-management failures. Power (2004a) explained this with his model of the cyclical...

Mary Erdoes, the CEO of JP Morgan's Asset Management business, and three colleagues provide insights into risk management issues faced by the firm's Private Bank during the financial crisis in 2008-2009. The case provides perspective on the philosophy with which they approach risk management,...

Inspired by one of the few banks that successfully weathered the 2007-2009 credit crisis, the case illustrates risk management in a corporate finance business. Chief executive Alastair Dowes has to decide if the risk governance process is adequate to uncover mega-risks in the portfolio, based on...