For this phase of the course project, you will conduct additional research for Bank of America. Write the next section of your risk management plan in which you discuss the key people responsible for mitigating risk at the bank. Be sure to include corporate governance, the impact of the Sarbanes-Oxley Act, and asset-liability management in your discussion. In this paper, please address the following questions:
- Who are the members of the board of directors and what is the significance of their role at the bank?
- Who are the members of the executive committee or team, specifically the President, CEO, and CFO and what are their responsibilities? What makes them qualified for their positions?
- How has the Sarbanes-Oxley Act and other legislation impacted financial reporting for the bank?
- How is asset-liability management handled at the bank and by whom? Be sure to include a brief description of how risks to liquidity, interest rates, currency, funding of capital projects, and planning for profit and growth are mitigated.