Financial services firms rank performance management and regulatory compliance as equal drivers of enterprise risk management (ERM) systems according to a global survey of 410 financial services executives. Also, most financial institutions anticipate significant business rewards from ERM systems: improved performance management and reduced capital allocation and credit loss. The results of the study conducted by Chartis Research and SAS, a provider of business intelligence, were unveiled at SAS Forum 2007 in Stockholm.

Although many firms expect ERM to generate significant benefits, only 26 percent of the financial institutions participating in the survey said they had a well-formulated and well-communicated ERM strategy, with a clear timetable for implementation. Even more telling: 25 percent of respondents had no current strategy or plans regarding ERM.

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