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.
Technology: Cloud on the horizon?
Cloud on the horizon?
Standard Chartered case highlights reach of US rules, experts say
Accusations that UK bank hid Iranian transactions are latest example of US authorities exporting compliance obligations
Fatca reciprocity agreement may cause delays, experts warn
US firms expected to push back on Fatca quid pro quo
Germany may ditch Fatca if reciprocity agreement not honoured, experts warn
Germany may back away from Fatca if the US is not able to honour an agreement to reciprocate, market participants say
Lack of uptake hinders AMA development in UK
Abandoning the AMA?
A model future (part II)
A model future (part II)
CFTC's Chilton: accept Volcker rule or get out of the way
Chilton warns banks to either co-operate with regulators on the Volcker rule or get out of its way, as it is definitely happening
OpRisk Europe 2012: Video
Highlights of the keynote speeches and discussions from this year's London conference
JP Morgan loss highlights lack of risk experts on bank committees
A committed committee?
OpRisk Asia: Changes in bank culture can be measured, conference hears
There is no magic bullet for changing bank culture, but there some rudimentary measures that can be used to judge progress, claims MCB Bank op risk manager
The ORR 20: Compliance software rankings 2012
The appliance of compliance
CFTC’s Chilton: Libor manipulation attempts ‘serious and significant’
CFTC orders Barclays to pay a $200 million penalty. Commissioner Bart Chilton says agency is "vigorously looking at individuals"
Fatca timeline in question with new Swiss-US deal
A new arrangement between the Swiss and US governments for Fatca compliance brings Fatca timelines into question, expert warns
CFTC guidance on HFT delayed, says Chilton
Expected guidance on high-frequency trading will be issued later, says CFTC commissioner Bart Chilton
Nowell quits FSA for LSE’s UnaVista
Regulator to join UnaVista arm of LSE
Sponsored webinar: MetricStream
Improving risk governance throughout the organisation
UK government rejection of ICB leverage ratio favours lending over stability, expert says
Rejection of ICB's leverage recommendation puts lending above stability, according to legal expert
Don’t rush into regulating shadow banking sector, IIF warns
A new report from the IIF warns regulators to consider different approaches to shadow banking regulation
OpRisk Europe: Ring-fencing move will pose operational risks
The move to ring-fence UK retail banking operations will pose operational risks, Barclays’ group operational risk director tells conference
OpRisk Europe: Postpone Solvency II indefinitely, says Hansen
Former CRO of SEB Life calls for a moratorium on Solvency II implementation in order to enable insurers to focus on recovery
OpRisk Europe: FSA made a mistake with the AMA, panellist claims
The UK Financial Services Authority should have forced large, sophisticated banks to adopt the advanced measurement approach to operational risk, risk manager argues
OpRisk Europe: Capitalise on op risk interest, conference told
A current focus on operational risk by senior management should be grasped by op risk teams to make key improvements
OpRisk Europe: Biggest operational risk posed by people, survey finds
Respondents to a survey at the OpRisk Europe conference overwhelmingly point to people as the biggest operational risk