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Call for Papers - Boards of Directors and Risk: The Governance of Risk-Taking and the Embrace of a Dynamic Future
Submission deadline: October 8, 2023
Special Issue - Journal of Risk Management in Financial Institutions – Boards of Directors and Risk: The Governance of Risk-Taking and the Embrace of a Dynamic Future
Guest Editor: David R. Koenig, President and Chief Executive Officer, the DCRO Risk Governance Institute
The Journal of Risk Management in Financial Institutions, in collaboration with the DCRO Risk Governance Institute, invites papers for a special issue devoted to the successful governance of risk-taking by boards of directors.
Boards have the fiduciary responsibility to engage in strategic planning that seeks to achieve corporate objectives. Success in reaching objectives requires that organizations be willing to take risk. At the same time, investors, regulators, and others have higher expectations around controls and, in some cases, avoidance of prospective losses, and regulatory burdens on boards and organizations are growing. Boards face an unprecedented challenge in simultaneously meeting these two fiduciary obligations and they rely heavily on their organization’s risk infrastructure to support their strategic planning and oversight roles. This special issue examines both practical cases and conceptual ideas for how boards can succeed in these two critical fiduciary areas, especially given the highly complex and dynamic business environment organizations face today.
Papers submitted for this special issue should focus on the work of the board or the interaction between the board and the corporate infrastructure to meet today’s challenges. Examples can include best practices from outside of finance but with clear application to financial institutions. Suggested questions to answer include, but are not limited to, the following:
• How should the board risk committee at a financial services company be comprised to perform optimally?
• How do we know if a board’s overall composition is fit-for-purpose against a stated risk appetite?
• How do boards understand and govern liquidity in investment products that invest in illiquid assets?
• How should boards be thinking about liquidity outside of the normal ALCO process?
• How do social media, instant banking access (e-banking / online banking), and other technological/behavioral changes act as accelerators for bank runs?
• How can the board of directors evaluate whether the board risk committee is functioning properly, and what measures can it take to improve its performance?
• Which is better at the board level, an audit and risk committee or two separate committees?
• How should risk and audit at the management level be improved to support and inform risk and audit committees at the board level?
• What are the best practices in a risk management infrastructure that a board should validate as part of its oversight role?
• How can a single board member effectively challenge a CEO-dominated or entrenched board culture?
• Is a risk appetite statement a meaningless document, a quantitative exercise with clear and specific thresholds, or an ever-evolving practice that can be improved? If the latter, how?
• What is the best use of Artificial intelligence in governance structures and processes, and how do financial service firms make it work best?
• What is the future of Artificial Intelligence in financial services, and what should boards be doing about that now?
• What aspects of cyber and technology risk governance are boards not paying enough attention to?
• How will new geopolitical alignments change traditional banking and financial services?
• How do boards ensure that a financial services firm’s risk culture builds resiliency and fosters innovation?
• What indicates to a non-financial company board that they have become a financial services company?
• How can board documentation of meetings be improved to increase transparency and accountability?
• How does a board create a process receptive to management feedback on fine-tuning its risk appetite and/or strategy if key/dynamic business parameters shift (or threaten to)?
• What unique mechanisms to govern risk-taking at financial institutions in emerging markets are needed to improve the effectiveness of board risk committees?
• What are the best practices for boards in regulatory communications on an ongoing basis?
• How should financial services company boards meaningfully assess climate risk?
• Does Quantum Computing threaten trust in financial institutions?
• What defines innovation in financial services?
• What is the bank of the future?
• What is a radically different (and better) way to structure the risk governance of financial institutions?
Submission guidelines:
The following types of articles will be considered for publication:
Practice articles: Thought pieces, briefings, case studies and other contributions written by practitioners. Articles should be 2,000 to 5,000 words in length.
Research papers: Contributions which explore new models, theories and research in risk management. The principal management implications of the submission should be included. Articles should be up to 6,000 words in length.
All submissions will be peer-reviewed to ensure that they are of direct, practical relevance to those working in the field.
Our current copy deadline for this special issue is: October 8, 2023.
Manuscript submissions and enquiries should be submitted to the Publisher, Julie Kerry at julie@hspublications.co.uk Further, more specific guidance for authors on format and style can be found at here.
Questions about this issue and proposals for papers should be directed to the Guest-Editor: David R. Koenig at david.koenig@dcroi.org as well as the Publisher, Julie Kerry.
About Journal of Risk Management in Financial Institutions
The journal is a quarterly professional journal aimed directly at those responsible for managing risk in financial institutions. The journal publishes a mixture of technical papers as well as qualitative papers on five inter-related areas of risk: strategic, financial, operational, regulatory and systemic risk. The journal is aimed at senior management within the banking sector, companies providing a service to the financial sector, and governments, regulators and academics throughout the world with an interest in financial risk management. The journal publishes briefings, discussions, applied research, case studies, expert comment and analysis on the key issues. Further information on the journal is available here.
About the DCRO Risk Governance Institute
The DCRO Institute is the world's leading source of risk governance training and credentialing. It is the home of the Qualified Risk Director® designation, the Certificate in Risk Governance®, and the Certificate in Cyber Risk Governance℠. We work globally to bring risk expertise to the boardroom and c-suite by teaching the positive governance of risk-taking℠. Graduates from our programs are leaders in boardrooms and c-suites on five continents. Our goal, which is emblazoned on our logo, is to help organizations Innovate, Sustain, and Create Value. Visit www.dcroi.org to learn more.
