"What is risk management?" ask Risk USA speakers

"Risk management today is monolithic and silo-based," Pierre Pourquery, global head of risk management and compliance for the global financial services sector at IBM, told delegates at the event in Boston.

He added that there is little focus by risk managers on value creation. "Another aspect of the problem is how to align risk management much more with the strategy of the firm," he said.

Pourquery argued that rather than seeing the risk management function as a "single silo", practitioners