Operational risk
WHAT IS THIS? Operational risks are those arising from people, processes and systems – the biggest form of exposure for many industries, but one that was neglected by financial firms until the collapse of Barings Bank in 1995. It was added to the Basel capital framework in 2004, but attempts to model operational risk were dealt a heavy blow by the huge, unforeseen losses suffered by banks in the aftermath of the financial crisis.
Rabobank fined $1 billion for Libor failings
Dutch bank the latest to pay for benchmark manipulation
Fatca FFI draft agreement finally released
Long-awaited document sheds light on compliance requirements
Risk USA: debate continues over defining reputational risk
Negative events may not damage financial institutions' reputations, conference hears
Risk USA: Deutsche Bank's 'painful' living will process
German bank tells of challenges posed by regulators' recovery and resolution requirements
Risk USA: Standardised regulation will cause systemic risk, warns senior UBS risk controller
Regulators' efforts to prevent another crisis are having the opposite effect
Risk USA: Hire more quants in compliance, says SEC official
SEC official warns compliance teams at quant funds lack qualifications and knowledge to effectively monitor trading strategies
Risk USA: Changing risk culture means higher staffing costs
Conference told of resource challenges facing Deutsche CRO
Cyber personnel lacking in major financial institutions, FBI agent warns
Serious attack will expose flaws in incident response programmes
Smart due diligence – Think ahead, plan accordingly
Sponsored Q&A: Amundi Alternative Investments
Cooke joins HSBC as global head of operational risk
Moves from Barclays Wealth where he was CRO
PRA losing key op risk staff after just six months
Senior op risk staff set to move into private sector
Data, delays and loss of focus: operational risks in M&A
When two become one
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Wall Street trading software not adequately tested, experts warn
Recent glitches highlight aggressive culture on Wall Street
Depositories ponder size of capital requirements for AIFMD liability
Capital punishment
SEC: critical business continuity tests lacking in run-up to Sandy
Investment advisers accused of lack of preparation in face of Sandy
Federal regulation may increase compliance burden, head of op risk warns
US insurers dealing with potentially heavier load from federal regulation and the Orsa
UK fraud down slightly as trends reverse
UK fraud down slightly as trends reverse