Risk Management


FSR advocates for the development of robust risk management practices that protect the financial and reputational strength of financial institutions, their customers, and the financial system. Risk management priorities cover insurance industry, systemic risk, prudential risk, and enterprise risk issues.

Policy discussions in this area are continually informed though input for executives that serve on the FSR Risk Management Policy Committee as well as the FSR Chief Risk Officers Council.

Current Risk Management Priorities:

  • Cybersecurity
  • Federal Government Involvement in Insurance Regulation
  • Reauthorization of the National Flood Insurance Program
  • Capital Planning & Stress Testing Requirements
  • Resolution and Recovery Plan Requirements
  • The Designation Process of the Financial Stability Oversight Council
  • Patents and Intellectual Property
  • Capital Standards for Financial Entities (Bank & Non-Bank)
  • Bankruptcy Reform and “Too Big to Fail” Issues
  • Swaps & Derivatives

Why TRIA Needs To Be Reauthorized

February 26, 2014

Terrorism is an unpredictable risk by nature, and cannot be underwritten for insurance purposes as no credible models exist for terrorism risk when compared to other insurable disasters. A private-public partnership via TRIA creates the support needed for viable policies, while preventing the public from footing the bill after an incident.

FSR Reiterates Support for Long-term Reauthorization of the Terrorism Risk Insurance Act

February 25, 2014

“TRIA ensures a robust private terrorism risk insurance market that ultimately limits taxpayer exposure in the case of an attack,” said FSR Vice President of Insurance & Trade, Anthony Cimino. “Many of the policyholders, like hotels, sports stadiums, office buildings and others, are the engines of American economic growth and could lose coverage if TRIA expires.”

FSR Statement on Reauthorizing TRIA Hearing, 2/25/14

February 25, 2014

The Financial Services Roundtable (“FSR”) thanks Chairman Johnson and Ranking Member Crapo for holding this important hearing entitled “Reauthorizing TRIA: The State of the Terrorism Risk Insurance Market, Part II” We applaud your consideration of Terrorism Risk Insurance Act (“TRIA”) and appreciate the opportunity to submit comments for the record. FSR supports the long-term reauthorization of TRIA.

Joint Trades Letter to the FDIC re: SPOE Strategy, 2/18/14

February 18, 2014

The Clearing House Association L.L.C. (“The Clearing House”), the Securities Industry and Financial Markets Association (“SIFMA”), the American Bankers Association, the Financial Services Roundtable (“FSR) and the Global Financial Markets Association (collectively, the “Associations”) welcome the opportunity to comment on the notice and request for comments of the Federal Deposit Insurance Corporation (the “FDIC”), entitled Resolution of Systemically Important Financial Institutions: The Single Point of Entry Strategy and published in the Federal Register on December 18, 2013 (the “SPOE Notice” or “Notice”).

Merchant and Financial Trade Associations Announce Cybersecurity Partnership

February 13, 2014

Today leading trade associations representing the merchant and financial services industries announced a new cybersecurity partnership. The partnership will focus on exploring paths to increased information sharing, better card security technology, and maintaining the trust of customers. Discussion regarding the partnership was initiated by the Retail Industry Leaders Association (RILA) and the Financial Services Roundtable (FSR).

What You Should Know About the NIST Cybersecurity Framework

February 13, 2014

The Framework strengthens the overall cybersecurity posture of “critical infrastructure” organizations, including those sectors that financial institutions and their customers rely on. It may also help in ensuring that third party providers adhere to baseline cybersecurity standards. Over time, it may help in mitigating cybercrime, enhancing systems’ resiliency, and protecting the privacy of consumers.

Stores, Banks team up to Fight Hackers

February 13, 2014

The two sectors have repeatedly sparred in the past, but when it comes to preventing people from hacking into financial data, “you can’t really make it better or improve it unless you look at it comprehensively,” said Tim Pawlenty, chief executive of the Financial Services Roundtable.

FSR Applauds Release of NIST Cybersecurity Framework

February 12, 2014

“FSR applauds NIST’s important effort on the Framework and we were proud to have been involved,” said FSR CEO Tim Pawlenty. “We were pleased to see NIST included our priorities around robust privacy protections for consumers. We look forward to working with Congress on cyber threat information sharing to ensure our industry’s customers are ultimately protected.”