Risk management/Operational risk
Three lines of defence model comes under attack
Operational risk managers say idea is too formalised and beset by implementation challenges
FCA’s ‘zero tolerance’ on KYC fosters de-risking – BBA
Media and UK regulator’s approach to financial crime criticised at Commonwealth discussion
State Street sees double whammy of op risk losses
Megan van Ooyen from SAS rounds up the top five op risk losses for July
Operational risk modelled analytically II: classification invariance
In a simple model, Vivien Brunel establishes the properties of an operational risk model under the requirement of classification invariance
OCC’s Cunningham on why regulatory agencies need CROs too
The US banking supervisor has been taking a leaf out of banks’ books and putting the focus on enterprise risk management
Experts question CPMI-Iosco cyber guidance
Speedy settlement and resumption of services after cyber attack could be counterproductive
Technology holds the key to easing KYC, says FCA director
UK regulator promotes the use of financial technology to smooth compliance wrinkles
Regulatory miasma makes life difficult for Ocwen CRO
Op risk veteran Marcelo Cruz says firm faces “absurd” quantity of rules in US mortgage market
$1.5bn subprime hit at HSBC dwarfs other op risk losses
Megan van Ooyen from SAS rounds up the top five op risk losses for June
What Brexit teaches operational risk management
Receptiveness, resilience and reflection are crucial for avoiding nasty surprises
Creating business value: Measuring the return of improved data management
Sponsored survey analysis: Oracle Financial Services
Even for me, AMA models are too complicated
The AMA doesn’t make any sense – but the idea of a single, simple equation does, writes Ruben Cohen
Banks told to seize moment to devise new op risk charge
Banks should “get clever and develop their own model” in response to SMA, says UK bank risk manager
Asset manager of the year: AllianceBernstein
AllianceBernstein reduces costly operational blunders by bringing risk to the fore
Bank of the year: UBS
Risk management failures cause the bank to revamp its op risk programme
Regulator of the year: Australian Prudential Regulation Authority
Apra wins praise for pushing business case for op risk modelling and scenario analysis
Insurer of the year: MassMutual
US life insurer makes strides in op risk with corporate culture and IT
The growing pull of public cloud for banks and regulators
Adoption by the FCA for Mifid II data reporting indicates public cloud satisfies regulatory, security and reliability requirements
Changing times mean a tougher job for op risk managers
Wave of organisational change at major banks heightens operational risk exposure
The beginning of the end for footloose modelling
US model risk guidance has drawbacks, but is a step towards better management of model risk
Fed paper stirs debate on new operational risk charge
Researchers offer academic justification for Basel's standardised measurement approach
Weighing criticism of the SMA reveals a lack of balance
Operational risk managers are becoming unusually excitable, with some justification
Benchmark misery will continue to plague banks
Index rigging caused $574 million of op risk losses in May, writes Megan van Ooyen from SAS
OpRisk Europe: on cyber, risk governance and Basel’s SMA
OpRisk and Cyber Risk Europe conferences spark debate on role of op risk and cyber security