The risk and compliance operating models of many of the world's largest banks are fragmented, inefficient and lack the flexibility to effectively support the pace and complexity of new regulatory and compliance requirements, according to Ernst & Young's survey, The Future State of Governance, Risk, and Control: Findings from a Survey of the World's Largest Banks. As a result, 54 percent of the survey respondents can't estimate the annual enterprise-wide cost of risk and control management.