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Global Credit Crisis Where Do Banks Go From Here Perspectives from...



At a time when many global banks are reviewing the effectiveness of their risk management practices, Bill Schlich, head of Ernst & Young's Banking & Capital Markets practice, offers his perspective on the importance of continued investment in this area. Today's video release also features Schlich's predictions for the future of the global financial market.





"I think what we've learned in the last year [in light of the credit crunch is that it's always a good idea to take another look at risk," says Schlich. "I think it's safe to say some of the players in the marketplace didn't completely understand the risks they had on and off their balance sheet. Once banks determine what business they are going to be in going forward, they need to keep in mind that risk management is more than just technology around calculating and quantifying risk - it's the people and the process as well as the technology."



Schlich has served the financial services industry in both an audit and advisory capacity for the last 20 years. He advises banking and private equity clients around the globe on current credit and liquidity issues, including the application of fair value, the valuation of illiquid products, capital and liquidity and SEC requirements.



View the Bill Schlich video: Global credit crisis: Where do banks go from here (http://int.sitestat.com/ernst-and-young/international/sGlobal_BCM_Schlich_Video-SMR_071708&ns_type=clickin)



Read additional insights from Schlich: Risk Investment in the downturn: Striking a balance between cost and hazard (http://www.ey.com/global/content.nsf/US/Banking_and_Capital_Markets_Overview_Risk_investment_in_the_downturn)



About Ernst & Young's Global Banking & Capital Markets Center:


In today's globally competitive and highly regulated environment, managing risk effectively while satisfying an array of divergent stakeholders is a key goal of banks and securities firms. Ernst & Young's Global Banking & Capital Markets Center brings together a worldwide team of professionals to help you achieve your potential - a team with deep technical experience in providing assurance, tax, transaction and advisory services. The Center works to anticipate market trends, identify the implications and develop points of view on relevant industry issues. Ultimately it enables us to help you meet your goals and compete more effectively. It's how Ernst & Young makes a difference.



About Ernst & Young:


Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 130,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve potential.



For more information, please visit www.ey.com.



Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.






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