Risk management/Operational risk
Op risk managers give cautious welcome to new internal audit code
Updated guidelines could strengthen third line of defence, but firms warn costs could increase
Heads in the cloud: banks inch closer to cloud take-up
Regulatory guidance helps clear the way for greater adoption of cloud computing
Bank of the West’s Pollino on being loud about insider fraud
Cyber-security officer applies ‘broken windows’ theory to financial fraud prevention
This tangled web: banks seek to contain systemic model risk
Network studies are being used to identify model dependencies and concentrations
Credit Suisse seeks capital relief for resolution unit
Finma to rule on whether divesting businesses can reduce op risk RWAs
Banks warned off machine learning for model risk
Banks acknowledge they “cannot hide behind a complex tool” to assess interconnectedness
Insurers blind to new threats, network analysis suggests
Risk taxonomies driven by top-down approach or externally imposed labels expose firms to blind spots
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
Bailout obsession holds back US CCP resolution regime
Dodd-Frank leaves legal uncertainty, but proposed alternatives could be even worse
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
Op risk capital fight a limp political thriller
Battle to replace AMA with non-models approach was beset by nationalistic squabbles
U-turn on SMA comparability sparks anger
Three regulators echo bank dismay as key principle of op risk capital framework is abandoned
Op risk managers not sold on SMA alternative
Proposed forward-looking approach would permit internal modelling, but penalise banks if losses exceed estimates
RBC loses senior op risk managers in wave of cuts
Senior group op risk director and US head of controls and governance among 450 to depart bank
Operational Risk Awards 2017: The winners
US Bank wins Bank of the Year while AIG scoops the Insurer award; RSA Archer takes Best Cyber Risk/Security Product and Overall Provider
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
Fed examiner calls on banks to rethink KRIs
Most banks fail to establish explicit link between KRIs and identified risk exposures
Banks move to model smaller op risk losses
Credit Suisse is using scenario analysis to model the risks associated with internal fraud losses
OCC warns on cyber risks from subpar patches at US banks
Regulator says banks have good track record overall, but exams reveal weaknesses