Technical paper/Governance
Default risk in the era of environmental, social and governance ratings: a comparative analysis of divergence
The authors investigate links between ESG ratings divergence and default risk, finding firms demonstrating better ESG performance show lower default risk.
Unraveling Lebanon’s financial crisis: the path from promise to peril, delving into a risk strategist’s own experience
An approach to simultaneously assess operational risk and maturity levels in information technology management
Risk governance, market competition and operational risk disclosure quality: a study of the ASEAN-5 banking sector
Bank supervision: lessons from the post-2008 banking crisis
This paper considers the learning points from official third-party reports produced in the wake of supervisory failures that can be applied to the management of front-line bank supervisors.
Model risk tiering: an exploration of industry practices and principles
This paper seeks to shed light on one critical area of such frameworks: model risk tiering, or the rating of risk inherent in the use of individual models, which can benefit a firm’s resource allocation and overall risk management capabilities.
In pursuit of good governance for the energy industry blockchain
This paper interprets the principles of good governance and corporate governance in the context of distributed ledger technologies, namely blockchain, analyzing specif- ically how these principles apply to a blockchain-enabled energy market.
Central counterparty resolution: an unresolved problem
This paper describes the current policy for recovery and resolution of CCPs and assesses the tool kit for resolution of them.
“Incomplete demutualization” and financial market infrastructure: central counterparty ownership and governance after the crisis of 2008–9
This paper examines risk management governance challenges of the demutualized CCP ownership model and the incentives faced by “incomplete demutualization”, where clearing members remain the ultimate underwriters of CCP default risk.
Skin in the game: central counterparty risk controls and incentives
The authors discuss the incentives created by the structure of CCPs’ default waterfalls, drawing out the role of transparency and governance in ensuring effective incentives.
Outsourcing risk: a separate operational risk category?
This paper identifies three steps in sourcing risk.