Operational risk
Recruitment rising, says Risk.net survey
Financial services firms are selectively recruiting new talent, according to a new Risk.net website poll. Risk talent is at the top of the shopping list.
Ticking the boxes
Suggestions of what investors should include in a due diligence questionnaire vary. The Alternative Investment Management Association’s (AIMA) illustrative questionnaire covers most aspects of a fund’s operation – from the basics, such as address,…
Why does Madoff matter?
Since the arrest in December last year of Bernard Madoff on charges of fraud, questions have been asked as to how both the authorities and investors failed to spot the investment manager’s Ponzi scheme.
Digging into due diligence
With the industry quaking from the shock of the financial crisis, due diligence has never been such a hot topic. Hedge Funds Review finds out what investors want to know about funds and managers.
SEC charges stockbroker over $250 million Ponzi
The US regulator unearths yet another pyramid scheme fraud
Cebs says banks ‘sufficiently capitalised’ after EU-wide stress testing
Level 3 committee issues an update on the results of its stress tests for European banks
Bank of America $2bn Bear Stearns lawsuit goes to court
Case against two Bear Stearns hedge fund managers to be decided in court
Taking a health check
When global economic recovery eventually takes place, it is essential energy trading organisations are in a position to capitalise on market changes. Julie Shochat and Ryan Rogers of Enite set out some guidelines
Divine illumination
Last year's OR&C top 100 banks study identified 'A new dawn for disclosure'. Things have hotted up since then, and now banks face not only a level of exposure and transparency never seen before, but also stricter regulation on almost every front…
It's all relative
The Operational Risk Consortium recently carried out an analysis of its growing database of operational losses in the insurance business. It found evidence of the need for scaling, which suggests no firm's losses should be viewed in isolation. Mariano…
A shining example
In the oil and gas industry, there's a lot to lose if operational risk management isn't top notch - lives are at stake. Financial services firms would do well to imbue their op risk frameworks with the same sense of significance, says Victoria Pennington
He who laughs last
Professor Leon Metzger is a seasoned campaigner on the importance of internal controls within asset management firms, and has faced ridicule over the years from those who valued returns over operational controls. Then along came Madoff. No-one's laughing…