Financial institutions need to review their remuneration systems as part of a much broader view of risk management, according to PricewaterhouseCoopers (PwC).

In a report, Taming Uncertainty: Risk Management for the entire enterprise, PwC claims compensation structures should be treated as a key part of managing a wide range of risks. Hans-Kristian Bryn, a partner at PwC's global risk management practice, said some firms still incentivise staff to chase revenues with simple revenue-based schemes.