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New research suggests a significant number of national and international American banks hired new Chief Risk Officers to mitigate risk but may have actually helped lead the industry into widespread insolvency.
Starting in the 1990s, many major banks hired Chief Risk Officers (CROs) in a response to new laws and regulations put in place following financial meltdowns in the 1980s. In an effort to comply, banking officials elevated risk analysts to corner offices to show they were serious about tackling risk.
More than 5,500 sociologists will convene in Montreal this August to explore scientific research relating to social inequality and many other topics, as part of the American Sociological Association’s 112th Annual Meeting. This year’s theme, “Culture, Inequalities, and Social Inclusion across the Globe,” draws attention to the nexus of culture, inequalities, and group boundaries in order to promote greater social inclusion and resilience, collective well-being, and solidarity in Canada, the United States, and globally.