Abstract
The purpose of this study is to conduct an in-depth analysis of the
existing risk management framework to explore the role of Board Risk
Management Committee (BRMC) and address the risk governance
issues existed in the banking sector o Pakistan. A qualitative research
design was adopted for this study to carry out the in-depth evaluation
of the existing risk management framework. A case study based
research strategy was adopted in which in-depth interviews were
conducted from the CROs/Heads of Risk of commercial banks of
Pakistan. Data analysis was done using a technique called thematic
analysis using QSR-Nvivo 11. In thematic analysis, the data collected
through interviews were coded under relevant nodes. Then themes are
extracted from the nodes using word clouds and word trees. The
thematic analysis reveals that there are certain deficiencies in the
existing risk management framework which are absence of risk expert
on the board; weak risk culture; dysfunctional behavior; risk related
mindset at the top. Furthermore, it is suggested that the Board of
Directors (BoDs) design policies to create a risk culture in the bank so
that every person in the bank will understand the importance of risk
management. Moreover, there should be risk expert on the panel of
BRMC to assist them in the evaluation of the proposals.
Muhammad Bilal. (2017) Assessing the Role of Board Risk Management Committee in the Risk Management Framework for the Banking Industry of Pakistan: A Thematic Analysis , Journal of Managerial Sciences, Volume 11, Issue 3.
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