Warren Buffett offers several lessons to CEOs of financial companies and one of them is that they need to be chief risk officers of their institutions in order to avoid crisis.
much has been done about Lack of a Chief Risk Officer But
(ticker SIVB) for much of the past year and the bank's mismanaged investments in Treasuries and mortgage securities. Losses on SVB's bond portfolio, including $15 billion on the largest group of securities holdings, helped ruin the bank.
