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.
Mitigating op risks for CCPs post-crisis
To the rescue
OpRisk North America: Right culture is critical, conference hears
Getting the risk culture right at a financial institution is critical to op risk – but speakers acknowledge that is far from easy
OpRisk North America: Too much confidence in risk models, OCC’s Levonian warns
OCC regulator warns risk managers to re-examine data integrity and be wary of model risk
Managing operational risk at commodity trading firms
Managing operational risk
White paper: Open source governance in highly regulated companies
Open source software can empower developers, increase innovation and improve competitiveness, and its popularity is growing tremendously. Open source now represents an average of 29% of the code deployed by IT and technology innovators are using 60%–80%…
White paper: Customer success story – Financial services
A global financial services giant finds that the Black Duck Suite enables it to realise the compelling economics of open-source software while solving the significant management, compliance and security challenges that weighed down productivity and…
Goldman Sachs' resignation linked to 'hypocrisy'
Goldman Sachs' treatment of clients not unusual, psychologist says
Derivatives blamed for Goldman Sachs' 'toxic' culture
Resignation letter links derivatives trade to moral collapse at bank
Fatca passthru payments to be simplified, expert says
Fatca passthru payments need to be scaled back, according to one industry expert
SEC AML initiative not clearly defined, lawyer warns
SEC/CFTC Capital Markets Working Group could be "just another talking shop"
Structured Products Technology Rankings 2012
Shuffling the pack
Central clearing - challenges and progress: part 2
Diana Chan, chief executive of EuroCCP, talks to Jessica Meek on interoperability in cash equities and OTC derivatives
Volcker to be implemented through trial and error, expert warns
US regulators' 'heuristic' process for implementing the Volcker rule is called into question
Central clearing - challenges and progress: Part 1
EuroCCP's Diana Chan talks to Jessica Meek on the issues facing the clearing industry
The ORR Innovation Awards 2012
Surviving the storm
ORR Innovation Awards: Insurer of the year
Zurich Financial Services
ORR Innovation Awards: Initiative of the year
Revised ORX data reporting standards
ORR Innovation Awards: Paper of the year
Robust estimation of operational risk
Expected problems
The capital reductions to be gained from properly assessing expected losses can’t be ignored, says Marcelo Cruz
Fatca statement adds to confusion
A statement released alongside draft Fatca regulations makes for further confusion, says expert
Industry split over draft Fatca regulations
Industry experts disagree on the effectiveness of the much-anticipated draft Fatca rules
UBS could 'get slammed' by FSA enforcement investigation
The FSA announces commencement of its formal investigation that could see UBS 'get slammed', according to one legal expert
Adoboli plea will complicate trial, say lawyers
'Not guilty' plea could be stalling tactic or attempt to spread guilt, lawyers say
Banks' AML procedures struggling under regulatory change
Experts warn that banks are unable to keep their AML programmes up to speed because of changes in regulation