Charlie McCreevy has spoken on the responsibilities of senior management in financial institutions to manage risk properly. He stressed that in turbulent times it is crucial to embrace risk management and take a holistic approach to it within firms and groups. He explained how improved transparency for investors and shareholders can help them ensure institutions are properly managed. He also looked at remuneration and said shareholders should be able to have a say on how the board of institutions, not just their employees, are remunerated. Finally, he outlined how supervisors can co-operate better and address how certain financial models work.