The Curse of Silo based risk management

Most institutions measure their risks in distinct silos. Indeed the discipline of risk management has been cursed (?) by the proliferation of specialists focusing on risks narrowly defined. The reality is that anything that can cause a change in value is a risk, and our traditional buckets, say market risk, or counterparty credit, or operational risk, are purely human conventions, and our institutions and our systems need to rise above them and think holistically about how these risks interact, particularly in times of stress.