Operational risk
Central clearing: safe as houses?
New regulations mandating the central clearing of OTC derivatives bring operational risks for central counterparties and increased exposure to systemic risk. In the second of a two-part series, ORR looks at the problems and opportunities for clearing…
BMO's David Fletcher: advancing on the AMA
In advance
Cole: FCA will be more interventionist than FSA
Margaret Cole of the FSA tells participants at a CSFI event that a change in culture from the FSA to the FCA will allow for a more proactive regulator
Lloyds abandons AMA
Lloyds has abandoned the AMA after trying to combine two models, losing key staff and coming under scrutiny from regulators
Fraud by long-serving employees rising, survey finds
Typical fraud is committed by senior financial managers and goes unnoticed for three years, according to KPMG
Op risk needs greater R&D effort, say US regulators
Senior Fed regulators call on banks to restart research into op risk management
Emerging risk detection continues to pose dangers
Regulators keen to see evidence of how institutions identify emerging risks in next round of stress tests
OpRisk Europe: Revised ORX reporting standards due imminently
New standards will clarify definitions and requirements for reporting to loss data consortium
OpRisk Europe: Reporting key to competent risk management
Reporting is key to competent risk management, yet is often neglected, New York Fed op risk specialist warns
OpRisk Europe: Fairness fights fraud, conference told
Firms can mitigate the risk of employee fraud by paying attention to their infrastructure and culture and also to the employees themselves, according to psychologist Adrian Furnham
Industry resists Dodd-Frank real-time reporting
While the Dodd-Frank Act calls for real-time trade reporting, industry insiders argue it will be misleading
OpRisk Europe: Incorporating legal risk "not a done deal" at Deutsche
Rob Nagra of Deutsche Bank tells of the tough journey Deutsche have had to get legal risk recognised as operational risk, while another international bank has found it easy
OpRisk Europe: Business continuity must be "reloaded"
Volksbank op risk head says many continuity plans do not reflect lessons from the financial crisis
OpRisk Europe: clear risk lines vital, Wymeersch says
Eddy Wymeersch calls for independent risk function at top level
OpRisk Europe: EBA calls for common approach on CRD
Bernd Rummel describes EBA push for Europe-wide approach to capital rules
Developing a sharia op risk framework
Risk and riba
Media-savvy US regulators may play on fear of wiretaps after Galleon success
Former SEC and DoJ spokesman says uncertainty over new tactics is a powerful tool
Oric and ORX in talks regarding possible merger
Oric and ORX have been in talks for more than a year regarding a possible merger of their operational risk data platforms
Only 15% of financial institutions have management information resources in place
Firms do not have MI risk programmes in place to deal with upcoming regulations, according to a report by think-tank JWG
Ease of bank switching could cause systemic risk
Meeting consumers' demands for easier bank account switching could increase the risk of a bank run, insiders fear
Sponsored feature: MEGA
How to use operational governance to create sustainable business value
Sponsored webinar: Where does responsibility lie with operational risk?
Webinar hosted by Operational Risk & Regulation and sponsored by Oracle addresses how to improve visibility and acceptance of op risk management techniques
Types of operational risk loss by event, April 2009 to April 2011
SAS presents the highest op risk losses in April and ABA Operational Loss Data Sharing Consortium analyses Q4 losses in the US
UK consumer protection: the fuss over the FSCS
The UK’s Financial Services Compensation Scheme (FSCS) was set up to ensure consumers could be compensated if their bank went under. But who should be paying for it? And what does its future hold as the country’s financial regulation framework is…