Risk management/Operational risk
Top 10 op risks 2021: resilience risk
Industry survives biggest real-world stress test, but challenges remain for firms and regulators
Top 10 op risks 2021: IT disruption
Integrity of core systems paramount as risk managers battle outages and hacks in work from home era
Op risk data: Chronic corruption charges cost Deutsche dear
Also: Wells Fargo fee fight; Nasdaq queers Emir reg; Covid keeps AML fines in line. Data by ORX News
Held in suspense: late futures orders blamed for Covid meltdown
Buy-side use of average pricing contributed to rash of failed trades and give-ups last March
Nordea CRO – a ‘controls freak’ meets Covid
Flexible checks and balances at bank's asset management arm kept risks within tolerance
Jumbo Goldman 1MDB fine upends 2020 trend to lower losses
Financial fraud and fat fingers loom large, but annual top 10 op risk losses still show fewer fails. Data by ORX News
Deutsche Bank lines up new head of op risk
Appointment follows departure of Bakhshi to CRO role at LSEG
Op risk data: In fewer reg fines, US took its lumps in 2020
Also: Retro Russian embezzlement fines; Barclays slapped for lack of forbearance. Data by ORX News
Risk committees: designing a horse and getting a camel?
When we examine what’s required of them, do risk committees hold water, asks ex-SEC risk oversight chief
DBS chief executive on fighting tech disruptors with data
Asia Risk 25: Data and AI are top technology priorities for Singapore bank, says Piyush Gupta
Must do better – Apac slow to curb control risk
Asia Risk 25: Even as the level of regulatory scrutiny peaks, meaningful change eludes the region’s banks
Op risk data: Brazil’s Líder unredeemed
Also: CEO clawbacks; Barclays timeshare trials; Fifa bankers' foul play. Data by ORX News
CLS: can’t live with ’em, can’t live without ’em?
FX settlement giant not fast on its feet, say dealers and challengers, but hard to knock down
HSBC exec: measure culture through smarter surveillance
Machine learning could help gauge positive sentiment from surveillance logs, says Elhedery
Regulators voice concerns over cloud risk
Risk USA: failure of big cloud service provider could cause “a very large shock”, says NY Fed exec
NY Fed’s Stiroh: ‘cultural capital’ at risk in pandemic
Risk USA: remote working could “erode” the culture of financial firms, says senior regulator
Op risk data: Firm-wide control fails cost Citi $400m
Also: Deutsche draws fire and AML fine over Danske trades. Data by ORX News
Ice tees up CDS options launch for November 9
Fight for CDS market share heats up as Ice begins clearing options and LCH preps CDX offering
Banks fold climate, pandemic and cyber risks into CCAR
OpRisk North America: anchoring idiosyncratic risks to macro scenarios a challenge, say experts
AML bill will swamp financial crime teams, banks warn
Proposed US legislation could force firms to run new and old systems in parallel, stretching resources
Fed set to unveil operational resilience proposals
OpRisk North America: banks expected to design idiosyncratic stress scenarios to test resilience
Fight against dirty money falters in blizzard of SARs
Authorities are swamped with suspicious activity reports, many of which are never investigated
OCC warns on cyber and fraud control lapses during Covid
OpRisk North America: Covid-induced changes in operations and working practices creating openings for bad actors, says senior regulator
After FinCEN leak, banks want more help from regulators
OpRisk Europe: Suspicious activity reports are going into a “black hole”, banks complain