Operational risk
Changing Hats, August 2010
The movers and shakers in the op risk professions
UAE firm sues MD over bonuses
Claims director mis-stated profits in order to collect bonus
How to make VAR go voom
An amended approach to value-at-risk that focuses on the drivers of risk and the use of agent-based modelling and simulation to capture the bounded rationality of human decision-making
Regulatory culture vultures start to circle in UK
Regulating for good culture and ethics at financial institutions is difficult because it is so subjective, but there are signs the UK supervisor is moving in that direction
Nigerian official says oil exports not at risk
Nigeria’s oil minister has dismissed market reports that the country’s oil supply will dramatically tighten following insolvency rumours and major plans for offshore drilling
UK Treasury regulatory reform paper hints at potential industry costs
More details emerge on how the new regulatory regime in the UK will be structured
Regulator-firm communication on AML 'harder and harder'
Temenos product director says “buffer” of regulation obstructs meaningful dialogue
BP’s oil spill to tighten global oil supply - report
BP’s Gulf of Mexico oil spill will tighten global oil supply as US oil production is set to wane, following expectations the disaster will lead to stricter regulation and closer scrutiny of drilling operations in the US, say Barclays Capital
Dodd-Frank: consumer protection regulator to increase retail op risk exposure
The planned Consumer Financial Protection Bureau could drive US focus on treating customers fairly for retail banking and credit products
Cultural shift needed to embed data security enforcement
Data security awareness lacking in financial services despite big budgets
Review imposes op risk capital charge on non-bank lenders
Mortgage lenders must hold capital for operational risk
Chinese banks’ AMA op risk projects on hold
AMA projects on hold as Chinese banks get to grips with credit risk portion of Basel II
UK FSA reorganisation happening quickly, says head of risk
The break-up of the UK Financial Services Authority is beginning to take shape, says the regulator's head of risk management
Aussie insurers face new risk-based capital requirements
New explicit requirement for operational risk capital proposed for life and general insurance firms in Australia.
HKMA issues incident response and management procedures
HKMA reminds firms of their requirements in response to incidents affecting customers
Europe hikes capital rules, slashes banker bonuses
Legislation adopted by European Parliament requires banks hold up to four times more capital to protect against trading risk; half of bankers’ bonuses to be paid in contingent capital
DBS Bank suffers IT outage
Singaporean bank suffers IT collapse of front-line and back-up systems
Cebs updates operational risk market guidelines
New paper in response to feedback “an improvement”
Indian loss data consortium Cordex ready to float
The long-expected Indian op risk loss database is in the process of being floated as a private limited company
Aon takes a measured approach to GRC implementation
Aon Corporation, a global provider of risk management services, insurance and reinsurance brokerage, has opted for a more measured approach to adopting a GRC platform by starting with an upgrade of its existing Sarbanes-Oxley (Sox) compliance system and…
Liquidity risk management: Managing the challenges of stress-testing
This webinar discusses best practice in stress-testing a liquidity risk framework and how firms can find the business benefit from the new liquidity risk management requirements
Gap between PR on safety & reality hit BP
BP has been accused of negligence and arrogance following the Deepwater Horizon disaster. Alex Davis examines the central role energy sector reputational risk management must now play
MD of supervision to leave FSA before restructure in 2011
Jon Pain to step down from UK regulator before proposed changes take effect next year