Managing risk in a changing market

"It’s the commitment to collaboration that has created value and made a real difference."
Nicole Salimbeni, PwC Partner, on working with GE Capital

The Global Financial Crisis has unquestionably changed the face of finance. For example, the Dodd-Frank Act in the United States has been designed to promote accountability and transparency within the financial system, and provide greater security and protection of shareholder value.

In meeting legislative requirements, GE Capital is focusing on its governance, risk and compliance policies worldwide.

GE Asia Pacific is determined to enhance its risk function in line with the US standard – and, after working with PwC for a number of years, engaged us to help develop a more proactive way of managing risk across the organisation.

PwC worked with the company to frame its knowledge of the market and its own operations from a risk perspective. Our long-standing relationship meant we were able to have honest discussions about what we thought would work for the company, and regular workshops were run to share this information with key stakeholders regarding best practice risk functions.

GE Capital provided PwC with the opportunity to work alongside its team rather than an extension of it, further deepening our relationship. In turn, there is every indication that the new risk management framework will help to deliver an Asia Pacific-wide approach that meets legislative requirements and provides greater security of shareholders’ returns.