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.
Risk Books: Risk Transparency
Sanjay Sharma talks about risk transparency and how his book helps achieve it.
Standard formula insurers face higher operational risk capital charge
Change to definition of unit-linked expenses would increase firms' SCR
CpML to foster standardisation among energy traders
Markup language could reduce high levels of operational risk
GRC software makes inroads in US utility sector
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Fatca compliance slowing down after 'ambiguous' IRS notice
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Fatca compliance at risk via third parties, expert warns
Questions on compliance within third parties need to be more focused
Bank of America fined $1.27bn for defrauding mortgage agencies
Bank pays fine for mortgage fraud in the lead-up to the financial crisis
OpRisk Asia 2014: photogallery
Free-to-view photographs from the OpRisk Asia 2014 conference
Proposed bitcoin regulations 'unworkable' in current form
NYDFS proposes bitcoin regulations that experts say go too far
Late AIFMD applications 'may face less scrutiny' by FCA
Last-minute AIFMD applications may be rushed through by regulator
US banks shunning bitcoin over regulatory fears
Regulatory constraints likely to continue holding back crypto-currencies
Compliance culture an issue for non-US banks, expert warns
Foreign banks struggling to comply with US rules, as BNPP fine shows
Nordea loses head of operational risk to Danske Bank, and other recent job news
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Conflict resolution was lacking at Paradigm, expert says
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Fatca withholders to struggle without crucial instructions
Days to go until Fatca deadline and instructions still not published
Operational risk modelled analytically
Regulators require banks to use an internal model to compute a capital charge for operational risk, which is thought to be sensitive to assumptions on dependence between losses that still remain a matter of debate. Vivien Brunel proposes an analytical…
Whistleblower costs will rise further for Paradigm Capital
SEC whistleblower case will bring more than just monetary fine