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.
ID theft leads rise in US suspicious activity figures
Suspicious activity data
Op risk models provoke concern at conference: video
Highlights from this year's OpRisk Europe conference
SEC needs to communicate better with whistleblowers, expert warns
Poor communication with whistleblowers could discourage people from coming forward, say legal experts
CFTC charges Corzine for MF Global collapse
Former chief executive charged alongside broking firm itself
Gillette leaves SEC after 27 years
Head of Chicago regional office set to join law firm
Retail account switching carries business risk, expert warns
Complying with new account-switching rules not enough without consideration of business risk
Quants tackle hedge fund operational risk
Quantifying operational risk
Volume of AML fines set to rise, expert warns
Smaller institutions face greater AML scrutiny, expert says
Editorial: Accessibility vs vulnerability
In broadening customer access via mobile banking solutions, banks are opening themselves up to a new range of cyber threats
Operational risk management and productivity
Financial companies can benefit from analysis of the relationship between volume and production costs
OCC warns of cyber threat to community banks
Regulator tells community banks to ensure threat is fully understood
OpRisk Europe: Regulators should focus on management behaviour
Industry experts call for greater attention from regulators on the behaviour of senior executives
OpRisk Europe: Banks rewarding restrained risk taking, conference hears
Heads of operational risk say banks aligning remuneration to risk objectives
Fears tougher FCA Arrow visits will "distort banks' risk priorities"
UK regulator said to be losing focus during on-site visits
France and Germany seeking greater Fatca reciprocity before signing IGAs, expert says
Questions remain about why France and Germany are yet to sign their IGAs with the US
Former MOD cyber chief: management too complacent about cyber threat
MoD's former head of cybersecurity says tone needs to be set from the top
Corruption and bribery in majority of financial institutions across EMEIA, survey finds
Corruption and bribery remain a serious problem, according to EMEIA survey respondents
Standardise op risk reporting, RBS’s Spielmann says
Despite the crisis giving operational risk the recognition it deserves, its value continues to be called into question. Craig Spielmann, head of operational risk at RBS Americas, talks about learning from credit and market risk practices and the benefits…
US Orsa guidance insufficient, says expert
Compliance burden and thin guidance for US insurers a concern
Next FASB chairman to be Golden
Technical specialist will take over in July
Canellos and Ceresney named co-directors of SEC enforcement division
Pair replace previous director Robert Khuzami