Nearly two-thirds of CFOs are more confident in their ability to manage risk, with 25% reporting an increased appetite for risk, according to a new national survey from TD Bank. A number of respondents said their organizations have managed risk proactively since 2008 through internal controls and procedures and increased accountability.
“What we’re seeing, both through this survey and in our interactions with clients, is a more positive outlook about the economic environment and the business opportunities coming out of the recession,” Greg Braca, executive vice president and head of corporate and specialty banking at TD Bank said in a statement. “Well over a third of the CFOs surveyed expressed that they’re more confident in the U.S. economy, and more than half viewed their organizations’ prospects in the same vein. CFOs feel better equipped to manage risk, which will enable them to take a more active approach to investing and expansion, even if the economy improves at a slower pace than we’d like.”
CFOs are also apprehensive about the regulatory climate, with more than a third of respondents indicating that regulation is a top concern going forward.
The survey was conducted in September and October 2013 by ORC International. A total of 150 executives were surveyed, half at companies with annual sales of $50 million to less than $250 million (middle-market) and half at companies with annual sales greater than $250 million (corporate).
- RMORSA Part 3: Risk Appetite and Tolerance Statement
- RMORSA Part 4: Risk Monitoring, Control & Action Plans