FICO has recently summarized its findings concerning trends in credit risk management. For FICO one takeaway was clear from this year’s discussion – and it echoes what was heard at FICO World last month in New York. Risk managers are waking up to the realization that they now have a responsibility to drive – or at least enable – profitable growth.
A power shift is occurring, with risk management and CROs gaining new importance. This was necessary because in the years before the recession, risk management’s voice was often ignored. Now, their job isn’t “When can we say no?” it’s “How can we say yes?”
Source: FICO Bankinganalyticsblog