Consultative group on risk management

The Consultative Group on Risk Management (CGRM) was launched in March 2021 to meet the demand by BIS member central banks in the Americas for greater cooperation in the area of central bank risk management, recognising the rapid shifts taking place in the risk landscape. These shifts include the intensification of cyber threats, rapidly evolving technology, growing reliance on third-party service providers and changes in central bank operations due to the Covid-19 pandemic. 

The CGRM conducts its activities under the auspices of the Consultative Council for the Americas (CCA). It meets regularly to discuss risk management issues and execute projects of common interest to strengthen risk management.

The first project was conducted by a task force led by Claudia Alvárez Toca from the Bank of Mexico, and resulted in the publication of a report on "business continuity planning at central banks during and after the pandemic".