Rogue trading
Op risk data: Santander in car crash of motor-finance fail
Also: Macquarie fined for fake metals trade flaws, Metro makes AML misses, and Invesco red-faced over greenwashing. Data by ORX News
Back in the New York groove: BNY CRO’s risk revamp
Veteran risk manager and former trader on “intelligent” risk-taking
Technology vendor of the year: NICE Actimize
Asia Risk Awards 2021
Top 10 op risks 2021: conduct risk
Remote working vastly complicates the job of conduct risk supervisors
Top 10 op risks 2021: theft and fraud
Changes in working practices since Covid shift angle of criminal attack on financial institutions
Basel sets out its stall on operational resilience
Body says banks expected to maintain critical services, but steers clear of setting compliance metrics
Mental health: the new frontline for risk management
Rise in stress and anxiety among locked-down staff could open up banks to range of risks
Top 10 operational risks for 2020
The biggest op risks for 2020, as chosen by industry practitioners
A behavioural lens could help manage human risk
Human decision-making needs careful watching. For that, behavioural science can help
Forex ‘Cartel’ not guilty but still paying a penalty
Despite acquittal, three former forex traders anticipate obstacles in trying to rebuild their careers
UBS’s CRO on the hunt for hidden risks
Swiss bank has rung the changes in its attempt to catch hard-to-measure risks, but “you are never safe”, warns Christian Bluhm
Quants tout exposure-based approach to op risk modelling
Ebor especially suited to modelling loss events such as legal claims, say proponents
Rogue traders versus value-at-risk and expected shortfall
VAR and ES are ineffective to deter rogue trading
Curbing rogue behaviour
Regulators should try to combat rogue trading by measuring traders’ risk-taking differently, say quants
Top 10 op risks 2018: unauthorised trading
Banks say threat from rogue algos outstrips that of human traders
From Russian roulette to overcautious decision-making
Risk-taking ought to be judged by its necessity, not likely outcomes, says Ariane Chapelle
Bank of the year: UBS
Risk management failures cause the bank to revamp its op risk programme
A key risk indicator approach to mitigating rogue trading behaviour
KRIs for rogue trading are vital defence against multi-billion-dollar losses from unauthorised trading
Mitigating rogue-trading behavior by means of appropriate, effective operational risk management
This paper discusses the violation of applicable firm guidelines by individuals employed by a bank or financial institution and suggests specific metrics to identify and prevent such behaviour.
Bank reforms starting to reduce risk of reputational damage
Losses illustrate scale of reputational exposure
Artificial intelligence and the future of financial regulation
How intelligent machines will change the financial markets