Operational Risk & Regulation - December 2014/January 2015
Articles in this issue
'Moral contagion' at the root of control failures
Pay reform won't solve all of banks' problems, academics warn
Fines to rise as regulators continue to punish misconduct
Repeated conduct failures lead to increase in average penalty amount
Fed reassures US banks on adverse scenario choice criteria
2015 stress test plans released with milder 'adverse' scenario
25 banks fail ECB stress check on financial health
Finances still need to be fixed across the EU, tests find
Bank of England disaster protocol questioned
Weaknesses highlighted after payment system failure
Economic pressure threatens ethics – Nestle risk head
Rigorous training the only cure for complacency, says Marc Schaedeli at Risk USA
UK markets review focuses on FICC structure and conduct
Fair and Effective Markets Review highlights causes of FICC market misconduct
SEC to focus on fair value in alternative mutual funds
Fund managers need to ensure internal controls are up to the mark
Financial crime body tightens rules on company ownership
New guidance for countries to address money laundering and terrorism funding
New head for Australian anti-money laundering unit, and other recent job news
Appointment signals new direction for unit, says minister
Top five losses: op risk losses at 14-month low in October
Operational risk loss data – October 2014
Top 10 operational risks for 2015
Heavy regulatory costs and fragile systems will be problems in 2015
Top 10 op risks 2015: city failure
Resilience a growing concern for modern cities
Top 10 op risks 2015: cyber risk
Major systems failures likely to continue
Top 10 op risks 2015: strategic risk
Op risk managers need to make their voices heard
Top 10 op risks 2015: mis-selling
Unsuitable products have cost banks billions
New York regulator hits Bank of Tokyo with $315m fine
Further penalty imposed for watered-down report
Top 10 op risks 2015: long-duration scandals
Slow-moving investigations mean misdeeds will linger on
Top 10 op risks 2015: conduct risk
Changing corporate culture will be hard work
Top 10 op risks 2015: physical security
Focus on cyber threat shouldn't mean ignoring physical risks
RBS fined £56m for control failures over 2012 IT outage
Poor IT risk management threatened UK financial system
Zealous SEC enforcement 'exhausting' compliance teams
Former SEC deputy enforcement head warns of more prosecutions
Human resource management key to minimising 'people risk'
HR needs to have closer ties to op risk – both would benefit
Consumer group backs single fee to tackle fund fraud
FSCP proposes simplified charges for UK asset management funds
Top 10 op risks 2015: illicit transactions
Tax evasion, corporate ownership and sanctions will all be concerns
Top 10 op risks 2015: model risk
Avoiding model failure will be a key issue in 2015
Top 10 op risks 2015: social media
Social media brings new risks to a bank, but also benefits
The rough road to reform in 2015
Cultural change will be on the agenda in 2015 – and it won't be easy
Research shows scale of regulatory 'revolving door'
What impact does the 'revolving door' have on regulatory independence?
Rise in microfinance poses new regulatory problems
Operational risks from microlending increasing in developed and developing world
Whistleblowing in the UK: the law and your responsibilities
Companies should implement a robust whistleblowing policy to ensure protection for all
Forward march – Op risk integration strides on
Sponsored survey analysis: Protiviti
How banks handle and model emerging operational risks
Spreading the net wide enough to catch as many data sources as possible is key to tackling emerging risks
