Information security
CLS’s Nagia on overcoming the challenges of forex clearing
As CLS expands into cleared derivatives, its CRO must navigate uncharted risk territory
EBA highlights ‘cliff-edge Brexit’, cyber and NPL challenges
High NPL levels and low profits also challenge European banking sector, EBA report says
Top 10 energy risks and challenges
Regulation and changing market dynamics among threats to energy in year ahead
Cyber risk a top threat for energy firms
Cyber crime cited among top three external risks; scarce data makes modelling difficult
Monthly op risk losses: Equifax breach sparks regulatory review
Breakdown of top five loss events, plus spotlight on Sweden’s largest ever phishing attack. Data by ORX News
Heads in the cloud: banks inch closer to cloud take-up
Regulatory guidance helps clear the way for greater adoption of cloud computing
Modelling cyber risk: FAIR’s fair?
Proponents say factor analysis can be applied to cyber risk; detractors retort results are still guesswork
Cyber insurers accused of lax underwriting standards
Loss data becoming more granular and diverse, but critics highlight pricing inconsistencies among underwriters
US Treasury using network theory to combat cyber threats
Targeted attacks and random threats call for different defences, financial research unit finds
Bank cyber chiefs grope for sound risk models
Vast scope of threats makes modelling unfeasible, say practitioners
‘Boiling the ocean’: GDPR data demands overwhelm banks
Repapering of existing contracts could stretch beyond May 2018, forcing dealers to rely on regulatory forbearance
PRA urges insurers to act on ‘silent cyber’ risks
Watchdog urges underwriters to embrace cross-policy stress-testing to identify exposure to claims from non-specified risks
Regulator of the year: OCC
Operational Risk Awards 2017: Agency encourages, and if necessary, forces banks to bolster defences
OpRisk Europe and North America wrap: cyber, 3LOD and the SMA
Future of op risk modelling a hot topic at conference, along with evolving three lines of defence framework
OCC warns on cyber risks from subpar patches at US banks
Regulator says banks have good track record overall, but exams reveal weaknesses
Better data key to cyber risk underwriting, say practitioners
Lack of loss data means predictions are a problem
Fed official: banks must recover from cyber attack in two hours
“If you’re waiting for us to give you regulation, you’re behind the curve,” says Fed’s Ferlazzo
Cyber insurance not a risk management tool, say banks
Lengthy payout mechanism of cyber policies makes it ineffectual against large losses, dealers argue
Cloud control
Sponsored feature: OpenLink
Regulators told to play greater role in cyber security
Companies can’t battle threats on their own, CFTC told
Nickel-and-Dimon: why bank CEOs loathe op risk capital
JP Morgan’s Jamie Dimon and ex-StanChart CEO Peter Sands are no fans of the RWA approach
Banks rush to protect against data breach fines
Cost of implementing GDPR ‘could reach hundreds of millions’ for largest banks
DTCC’s Bodson criticises ‘dumb-ass’ cyber risk rules
Requirement to recover from cyber attack within two hours unrealistic, he says