When regulators collected data on banks’ operational risk scenarios in 2008, the biggest loss envisaged from a money-laundering breach was €120 million. In December, HSBC had to swallow a $1.9 billion...
New York’s BNY Mellon has sold off its retail operations and holds no prop trading book – but operational risk is more important than ever for the company, with customer due diligence and business...
HR departments are key in preventing internal fraud - and in dealing with the consequences, Nick Kochan finds
This handy guide reviews the various steps banks are taking to improve their risk management techniques, looking at the benefits and pitfalls of each one.
More Features/Operational Risk articles
The rapid growth of social media over the past decade has left regulators and financial institutions lagging behind as they attempt to deal with the risks it poses. While the industry has made progress in dealing with potential risks, industry experts...
The rise in cyber attacks poses a significant danger to the financial services industry, and to its customers. The sector is widely regarded as being the most prepared for such attacks, but continued efforts to improve security may not always prove sufficient....
Two major software failures have caused embarrassment and significant financial loss to leading financial institutions this year. OpRisk looks at the lessons to be learned from the RBS and Knight Capital problems
Technology can provide a competitive advantage in banking. How it is applied by Tier 1 and Tier 2 institutions, to the benefit for their risk management systems, is discussed.
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