Operational risk
WHAT IS THIS? Operational risks are those arising from people, processes and systems – the biggest form of exposure for many industries, but one that was neglected by financial firms until the collapse of Barings Bank in 1995. It was added to the Basel capital framework in 2004, but attempts to model operational risk were dealt a heavy blow by the huge, unforeseen losses suffered by banks in the aftermath of the financial crisis.
Regulators must define conduct risk, Nomura op risk head says
Conference hears of need for conduct risk definition by UK regulator
US appeals court ruling on Citi settlement ‘too late’
Overturning judge's rejection of Citi settlement won't have much impact
Tackling substance misuse "too costly for banks"
Scale of problem seen as too great to address directly
Managing conflicts of interest to mitigate conduct risk
Financial institutions must ensure clients' interests aren't compromised
Orsa reports and third-party relationships at MassMutual
Head of op risk discusses concerns about the Orsa and third parties
Finra: poor controls around HFT a big concern
HFT operational monitoring a real issue
Conduct risk and PBR questions for Allstate CRO
CRO challenges at Allstate
Banks 'killing' bitcoin communities, expert warns
Engage with crypto-currencies, banks told
Ridiculous, flawed, too diverse: op risk models under fire
Regulators want more consistency - and some are questioning AMA
Cyber may intimidate boards, OCC's DuChene warns
Lack of cyber expertise intimidating
SEC slammed by own commissioner for RBS Libor step-down
Big banks 'too big to bar', says commissioner Kara Stein
Intra-day risk management needs clear data, conference hears
Data needs to be understood across the organisation
BYOD growth must mean focus on data and apps, expert says
BYOD doesn't necessarily mean data compromise
Operational Risk & Regulation Awards 2014: the winners
We recognise the best performance in a year when data was king
OpRisk North America 2014: photogallery
Free-to-view photographs from the OpRisk North America 2014 conference
OpRisk North America: Op risk lags credit and market risk
Op risk disconnect from business, conference hears
Insufficient controls for insider risks, conference hears
Internal fraud and data theft threats growing, conference hears
OpRisk North America: Question business models, conference told
Banks must involve op risk in strategy decisions, says RBS' Spielmann
OpRisk North America: Beware interconnectedness, DuChene warns
Delegates warned to monitor external as well as internal risks
OpRisk North America: Regulators to scrutinise use of external loss data in risk models
AMA guidance coming soon, Fed economist promises
OpRisk North America: Executive order on cyber security insufficient
Congress must act to improve co-operation