Warren Buffett offers many lessons to CEOs of financial companies and one of them is that they need to be chief risk officers of their institutions to avoid a crisis.
Much has been made about the lack of a chief risk officer at
SVB ການເງິນ
(Ticker SIVB) for much of last year and the bank’s ill-fated investments in Treasuries and mortgage securities. The losses on SVB’s bond portfolio, including $15 billion on its largest group of securities holdings, helped doom the bank.
Source: https://www.barrons.com/articles/berkshire-buffet-banking-crisis-c703935b?siteid=yhoof2&yptr=yahoo