CFOs Recalibrating Their Approach to Risk Management.New Prudential Perspective: "Riders on the Storm: CFOs and the Credit Crisis" NEWARK, N.J. -- For Corporate America's chief financial officers, this is a time of considerable focus on fundamental credit and risk management principles. Finance executives' new perspectives on credit and risk emerging from the financial crisis will help ensure that the recovery of the economy is durable and sustainable, contends a new Prudential Financial, Inc. (NYSE NYSE See: New York Stock Exchange :PRU PRU Prudential Financial PRU Pupil Referral Unit PRU Photographic Reconnaissance Unit PRU Potomac Rugby Union (Washington, DC) PRU Provincial Reconnaissance Unit PRU Projets de Rénovation Urbaine PRU Pruhonice ) publication. Riders on the Storm: CFOs and the Credit Crisis, written by Bernard Winograd, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. and executive vice president of Prudential's U.S. Businesses, provides perspective on the long-term implications of the financial crisis, key lessons about financing, as well as insights into how companies can take a more holistic view of risk. "We are all living with reminders of the dividends that effective risk management can pay, and of the depth of the problems that can ensue en·sue intr.v. en·sued, en·su·ing, en·sues 1. To follow as a consequence or result. See Synonyms at follow. 2. To take place subsequently. when it is done badly," writes Winograd. "Companies are facing up to the importance of effective risk management in a more holistic way than ever before." In the publication, Winograd argues that there will be new rules for any complex structured products that survive the economic crisis. In addition, he notes that reassessing debt levels, maintaining access to diverse sources of capital, and running businesses more conservatively to secure higher credit ratings are likely to be areas of focus for finance executives. He also argues that companies will have to do more to assess the potential impact of a broader range of risks on their businesses going forward than they have in the past. For more information or to obtain a copy of the paper, please visit http://www.prudential.com. Prudential Financial, Inc. (NYSE: PRU), a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. leader with approximately $542 billion of assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. as of March 31, 2009, has operations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Asia, Europe, and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping approximately 50 million individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit http://www.news.prudential.com/. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion