Operational risk
Systemic operational risk since the financial crisis
A year of huge fines and settlements has thrown new light on the importance of controls and conduct risk
Benchmark survey and Lloyds/Bank of Scotland fine underline need for bonus scrutiny
£28 million penalty for poor incentives – but op risk still largely excluded from pay policies, survey finds
Schedule slips and costs rise on rate hedge payouts
UK regulator reveals that banks will miss deadline for compensating interest rate hedge mis-selling victims
Financial crime survey 2013
Sponsored survey analysis: BAE Systems Detica
Meeting the challenge of bribery and corruption in Africa
Andrew Legg, senior litigation partner at global law firm Eversheds, examines the challenges businesses can face when navigating the issue of bribery in Africa and calls on the experiences of organisations already tackling the issue at the sharp end
Integrating operational risk into business management
Sponsored webinar: MetricStream
'Zero-loyalty environment' blamed for financial malpractice
Lack of leadership and job insecurity are behind widespread wrongdoing in the financial sector, seminar hears
Top five losses: JP Morgan hit by $5.1bn settlement
Operational risk loss data – October 2013
Accountability crucial for internal governance
Pickpockets or cyclists?
Building better benchmarks in Dubai: DME's Chris Fix on running an oil exchange
Top of the agenda for the Dubai Mercantile Exchange and its chief executive, Christopher Fix, is assuring the integrity of its crude oil benchmark. He talks to OpRisk about the operational challenges stemming from the exchange’s unique regulatory…
Control weaknesses continue to plague banks
The primary concerns for operational risk managers in 2014 include data theft, index rigging and reputational risk, but many have one thing in common – weak internal controls
Top 10 op risks: tighter consumer regulation
The last in our series of top 10 op risks for 2014 looks at tighter consumer regulation. An industry plagued by scandal will now face closer regulatory attention on its retail side
Top 10 op risks: culture of complicity
The ninth in our series of top 10 op risks for 2014 looks at culture of complicity. Criminal investigations have revealed disturbing common features in many recent scandals
Sants quits Barclays after just 10 months in compliance role
Ex-regulator and head of compliance quits UK bank citing stress
Top 10 op risks: reputational risk
The eighth in our series of top 10 op risks for 2014 looks at reputational risk. Admissions of guilt expose banks to more than simply public displeasure
Handling the risks of rapid recruitment
An unprecedented recruitment process has taken place in recent years to handle the payment protection insurance scandal. The financial services industry has had to rapidly embrace the challenge of hiring staff in their thousands, but lessons learnt from…
Top 10 op risks: business continuity in the long term
In the seventh of our series of top 10 op risks for 2014, we look at long-term business continuity. Op risk managers need to prepare for crises that last months, not days
Top 10 op risks: IT failure
The sixth in our series of top 10 op risks for 2014 looks at IT failure. System crashes are an embarrassingly public way to lose money – and will become less and less affordable as transaction speeds grow
Top 10 op risks: internal control failures
The fifth in our series of top 10 op risks for 2014 looks at internal control failures. Banks in 2014 face the task of improving governance to prevent another year of embarrassing losses
Top 10 op risks: AML
The fourth of our series of top 10 op risks for 2014 looks at anti-money laundering. Preventing money-laundering is set to become just one aspect of the broader effort to clamp down on all kinds of illegal transactions
Modelling dependency in operational risk
Dependencies between risk types are a vital part of any risk model – but the choice of how to represent them can be critically important to the result of a capital calculation
Top 10 op risks: data theft
In the third of our series of top 10 op risks for 2014, we look at how high-profile spying and security leaks put the spotlight on privacy obligations
Top 10 op risks: board overstretch
The second in our series of top 10 op risks for 2014 focuses on the boardroom. Regulators and governments are loading new responsibilities on to directors – adequate board membership has never been more important