Risk management/Operational risk
How UBS kept workers plugged in during the pandemic
Swiss bank’s A3 virtual desktop system offers a blueprint for remote working
Esma calls for full audits of cloud providers
Regulator says firms must negotiate access rights to books and premises of providers
Op risk data: Morgan Stanley falls foul of Dutch tax office
Also: JP Morgan settles crypto fees class action; banks debate Covid-19 scenarios. Data by ORX News
Data error inflated Wells Fargo’s op risk capital by $5 billion
Sharp fall in Q1 RWAs followed removal of duplicate data
Mental health: the new frontline for risk management
Rise in stress and anxiety among locked-down staff could open up banks to range of risks
Elevating enterprise resiliency practices to combat business challenges and disruptions
Hosted by Risk.net and RSA, this webinar explores the latest in enterprise resiliency strategies and how they can be effectively communicated throughout all parts of your organisation
Big banks worry small lenders could derail Libor switch
As UK regulator reiterates 2021 warning, dealers say Covid-19 is forcing smaller lenders to divert resources
Op risk data: IBK snagged in money-laundering ops to Iran
Also: foul play called on Hapoalim’s football bribery scheme. Data by ORX News
Banks race to adapt AML systems for the coronavirus age
Lenders expect regulatory lashing if controls fail to keep pace with changes in criminal behaviour
Emergency Covid loans carry high mis-selling risk, banks fear
Rapid roll-out of government schemes raises legal fears over inequitable client treatment
Virus weakens banks’ defences against internal fraud
Stressed markets and remote working leave firms vulnerable to op risks and cyber attacks
Covid brings op risk to the fore at Credit Suisse
Jim Barkley, head of non-financial risk, has added pandemics to the long list of threats on his radar
Banking regulator: beef up security in Covid-19 remote working era
OCC security controller warns cybercriminals exploiting wider attack surface created by remote working
Covid-19 frazzles AI fraud systems
Seismic changes in customer behaviour see machine learning solutions throw out false positives
Op risk data: Outsourcing losses loom in lockdown
Also: Swedbank hit with huge AML fine; record Russia fine for StanChart. Data by ORX News
Coronavirus is testing op risk managers to the limit
No amount of stress testing can prepare firms for the risks they’re facing, says Ariane Chapelle
Op risk data: BNP faces €150m bill from mortgage loan sales
Also: Maybank, ING and MUFG hit by $300m commodities trading fraud. Data by ORX News
Top 10 operational risks for 2020
The biggest op risks for 2020, as chosen by industry practitioners
Top 10 op risks 2020: regulatory risk
New technology and reams of red tape make non-compliance fines more likely
Top 10 op risks 2020: IT disruption
Risk of downed systems, from hack or outage, continues to make op risk managers fret
Top 10 op risks 2020: data compromise
Hackers, thieves and wobbly in-house data management keep this category near the top of the list
Top 10 op risks 2020: geopolitical risk
Nationalism, trade wars and epidemics make for a heady cocktail
Top 10 op risks 2020: theft and fraud
From mega loan fraud to canteen theft, the danger is ever present
Top 10 op risks 2020: talent risk
Firms struggle to reduce headcount and fill gaps without cutting corners