The drive for regulatory reform in the US has focused on the availabilty of data, and a bill being discussed in Washington, DC proposes the establishment of national data and research centres.
At OpRisk USA 2010 participants discussed how they can deal with increasing waves of regulation and add value in the new financial environment.
Eileen Robbins, vice-president in operational risk at the Depository Trust & Clearing Corporation, has a history of turning up just as things are kicking off. She talks to OR&R about the DTCC’s much-lauded handling of the Lehman Brothers collapse,...
Editor Victoria Tozer-Pennington reviews the op risk events from the month that range from volcanic ash clouds to civil fraud.
The UK FSA seeks to require firms to record all relevant conversations made on mobile phones
Erupting volcanoes do not often show up in scenario plans for financial services firms but they might do from now on.
Ed Sankey takes over from Philip Martin as head of the Institute of Operational Risk (IOR).
Paper seeks to harmonise rules for approving model changes under the advanced measurement approach (AMA)
Operational Risk & Regulation launches its fourth annual compliance software survey
Discussion about incentives to promote good risk management is increasingly gaining relevance for Basel II advanced measurement approach applicants, as well as for banks adopting the standardised approach
Hedge fund managers might unwittingly be exposing themselves and their firms to compliance risks by failing to fully address the Market Abuse Directive. Should they act now and review internal policies and systems as a key part in abuse detection?
Dubbed 'Basel for insurers', operational risk management under the Solvency II regime is still mystifying most in the insurance world. This case study highlights the basic issues to consider.
For a moment it looked as if the post-crisis drive for reform was losing momentum. But the Basel Committee on Banking Supervision has established working groups to keep the industry focused, and to propose ways to keep moving forward
Demand for operational risk management experience is pushing up salaries.
Increased regulatory scrutiny means compliance officers are spending 20% of their time dealing with requests from regulators, creating a single liason officer therefore makes good sense
Scenario analysis is gaining in popularity following the crisis and loss data consortia are quick to cater for this renewed interest
Guidance expected from the Basel Committee will make it more difficult for banks to claim capital relief through the use of insurance.
Supervisor looking at range of issues as part of broader look at big banks, including compensation, compliance, and capital