Operational Risk & Regulation - Jul 2016
Articles in this issue
People: Societe Generale appoints new chief risk officer
Diony Lebot is promoted; Robert Cook becomes president and CEO of Finra; Andre Cronje joins HSBC
Insurer of the year: MassMutual
US life insurer makes strides in op risk with corporate culture and IT
Paper of the year: PJ de Jongh, Tertius de Wet, Kevin Panman and Helgard Raubenheimer
South African academics pioneer a quick and easy way of estimating op risk capital
SMA proposal fires up op risk managers
Banks say backward-looking SMA is easily gamed and will lead to high and volatile capital charges
Consultancy of the year: PwC
PwC goes back to basics to simplify how clients approach risk management
Best market surveillance product: Ancoa
The London-based provider has applied itself to the specificities of fixed-income, currencies and commodities over the past year
Best risk analytics tool, Best stress testing product and Best overall product: The Analytics Boutique
OpCapital Analytics has been implemented at 10 institutions, including banks and insurance companies
Changing times mean a tougher job for op risk managers
Wave of organisational change at major banks heightens operational risk exposure
Best GRC product and Best operational risk product: Nasdaq BWise
The vendor, a leader in the governance, risk and compliance space, scores with rapid deployment solutions
Best regulatory reporting platform or service: UnaVista
The service boasts some 50,000 users, with around five billion transactions being processed each year
Best financial crime product and Best overall provider of the year: Nasdaq Smarts
A surveillance system developed by Nasdaq proves critical to the success of a 'layering' case
Regulator of the year: Australian Prudential Regulation Authority
Apra wins praise for pushing business case for op risk modelling and scenario analysis
Investors must probe bank culture, says veteran financier
Ex-Barclays chairman says managers should take “stewardship responsibility” for bank conduct
European banks pressed to boost model risk management
US model risk management guidelines being increasingly used by banks and regulators elsewhere
Best newcomer: Capital Preferences
Its Economic Fingerprint product uses basic games to tease out a client's 'revealed preferences' in terms of their attitude to risk
Best fraud detection product: Clari5
Financial crime-management system uses collective intelligence and responds to changes in a client's behaviour over time
Best operational risk initiative: Oric’s Scenario universe and Principles of operational risk management and measurement
The consortium wins with a definitive set of op risk scenarios that insurers can use to identify which one is relevant
Best managed/support services provider: Abide Financial
Firm captures a 24% market share in Mifid reporting by volume and is the third-largest manager of trade reports under Emir
Best compliance product: Oracle Financial Services Analytical Applications
At the foundation of Oracle's offerings across all 46 of its financial services analytical applications is a common data model
Law firm of the year: Stephenson Harwood
Small is beautiful for the regulatory litigation practice, representing banks in high-profile cases
Bank of the year: UBS
Risk management failures cause the bank to revamp its op risk programme
Euro banks to bear brunt of €115bn SMA capital hike: study
"You will get some winners and some losers, but with this it's mostly losers," says ORX's Carrivick
Best cyber risk/security product: RiskLens
The US software company's product enables reporting and decision-making on cyber security
Best outsourcing provider: Lanware
The firm offers a full suite of services, from disaster recovery, unified communications and back-up to cloud-based IT
Benchmark misery will continue to plague banks
Index rigging caused $574 million of op risk losses in May, writes Megan van Ooyen from SAS
Asset manager of the year: AllianceBernstein
AllianceBernstein reduces costly operational blunders by bringing risk to the fore
Basel’s Adachi: banks may discard some loss data under SMA
Losses from discontinued businesses may not count towards op risk capital
UK financial firms lack ‘basic cyber hygiene’, says FCA
Financial regulator says it will challenge firms more regularly on cyber security
Operational risk managers told to do less to succeed
Resist temptation to intervene often, says head of op risk at UBS Asset Management
Cyber is just a ‘subset of operational risk’, CISO says
Information security should use same framework as op risk, Cyber Risk Europe delegates hear
Three lines of defence a struggle, say op risk heads
Separation "theoretically perfect" but "practically, hugely flawed" says UBS's Hunt
One-of-a-kind regulatory reporting
Sponsored Q&A: London Stock Exchange Group
