With the 'London Whale' modelling failures still casting a shadow over the industry, BAML model risk head advocates ongoing testing
Banks should not abandon complex risk models just because they failed during the financial crisis, conference hears
Heads of operational risk say banks aligning remuneration to risk objectives
The computational requirements of Solvency II are driving the need for more computing power and data storage accessible on a scalable basis. Early adopters are leveraging cloud computing for their Solvency II implementation. Others are taking a more cautious approach, waiting for the industry to address key concerns such as security before they to embrace computing.
More News/Risk Management articles
Inconsistent rules are damaging financial intermediation, says senior Japanese banker
Dealers push for a more risk-sensitive model, but regulators may opt to incorporate a new non-internal modelled approach into the existing hypothetical capital method
Concerns Solvency II-based risk-free curve could be distorted by speculators as market begins to adjust ALM hedges
US clearing rules do not exempt SPVs, but industry is split on whether other exemptions - for unclearable swaps - would apply
Charges of money laundering against Liberty Reserve is warning to banks
UK regulator said to be losing focus during on-site visits
In response to industry fears of a collateral crunch, regulators have revised the proposed rules on margining for uncleared over-the-counter (OTC) derivatives.You can find out more by downloading this white paper here.