I think I saw some concept art awhile ago where a character had his sword and shield on his back, much like Link in The Legend of Zelda
http://media1.gameinformer.com/imagefeed/featured/bethesda/elderscrolls/elderscrollsv/bear610ed.jpg
Here it is: Shield on Back. Just the way it should be, if you can equip and unequip your weapon you should be able to put your shield away, like the Mongols and Vikings did.