Who we are?
RiskCongress.Org is an independent risk organisation focusing on addressing issues and challenges impacting risk and capital framework and approaches across financial institutions through its Strategic Approach to risk.
The aim of the organisation is to address issues and challenges through determing best practices through shared knowledge and understanding of Risks across the financial sector and beyond.
The evolution of RiskCongress.Org can be attributed to the
response for an overview of approaches to risk and capital frameworks following the credit crunch financial crisis. The financial crisis in 2008 has cost UK tax payers £850
billion (Article by Andrew Grice,
Political Editor for independent) estimated as £1 Trillion and US tax payers $700bn (£425bn) (Article By
James Quinn, US Business Editor for Telegraph), $3.2 trillion being a more accurate cost in government bailouts for
investment banks and the long term cost to tax payers is still unknown as government borrowings and debts are long term.
Founder Abiola Adesina of RiskCongress.Org began its work of the back of her extensive knowledge and understanding of risk within and beyond the financial sector through extensive research and development of the field of risk for its further development through a strategic approach. The work of RiskCongress.Org is currently not being sponsored by any organisation hence would be looking to the financial services community to sponsor further development of its work through a strategic approach to risk encompassing collaborative research and its further development into a Risk Institute to deliver best practice through shared knowledge. Any further development of its work is to be determined of the back of collaborative research and development work carried out by the Risk Institute. The developed Risk Institution of the back of collaborative research and its development work of Risk Institute would explore the field of risks to develop further best practices, risk governance and supremacy across the financial sector and beyond.
The work inspired through Government, Treasury, Sovereign banks, financial institutions and taxpayers, who bore the economic and financial crunch of the financial crisis 2008 partly triggered by challenges and inadequacies in the risk and capital framework and approaches.
It evolved to become the vehicle for highlighting, creating and raising awareness of these issues and challenges to relevant bodies and senior management within financial institutions. It's work is both innovative and dynamic in nature aiming to break new grounds and facilitate further development of the field within the financial sector. It's work at this early stage is considered of tilting the grounds to facilitate it's development. A valuable gem to the financial services sector it is aiming to serve. RiskCongress.Org's addressing of issues and challenges impacting risk and capital framework and approaches is a first step to addressing it's over and heavy burden regulation of the industry. There is now a requirement for harmonisation and standardisation of approaches and framework to address the concurrent problems in risk and capital framework leading to the failure of Economic Capital provisions and subsequent collapse of the financial system.
What should the future face of risk and capital framework and approaches be to prevent a further re-occurrence of the dehabilitating conditions leading to the collapse of the financial system and subsequent bailouts placing it's financial burdens on the economy.