Top 10 operational risks: Focus on third-party risk

Ion hack deals industry painful reminder on drawbacks of outsourcing

Credit: Risk.net montage

The financial industry is supported by a vast network of vendors. Human resources, data storage, number-crunching, trading: whatever a large firm does, there is probably an app for that.

Already an industry that is highly reliant on third parties such as trading venues and clearing houses, finance is now more outsourced than ever. With the shift have come great boons, including lower costs, scalability and sometimes better security, allowing firms to provide clients with a better service.

But

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Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

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