Outsourcing
As supplier risk grows, banks check their third-party guest lists
Dora forces rethink of KRI and appetite frameworks amid reappraisal of what constitutes a key counterparty
Top 10 op risks: change brings challenges
Higher interest margins and a trend toward insourcing drive major tech projects
Top 10 op risks: third parties stoke cyber risk
High-profile hacks on market infrastructures and vendors expose linkage between top three risks
Why cyber hack leaves EquiLend down but not out
Users turned to alternative securities lending platforms, but that may not mean lost market share
Europe’s new AI Act threatens supervisory ‘chaos’ for banks
Policy-maker says new role for European Commission could collide with ECB model risk regulation
EquiLend cyber hack exposes trade reporting dependence
Ransomware attack at securities lending platform disrupts regulatory compliance
Will generative AI crack the code for bank tech teams?
Banks could roll out tools to help translate old – or write new – code within months
Post-Brexit divergence puts EU subsidiaries on the rack
Banks face choice between higher staffing costs or over-engineered processes at UK headquarters
Generative AI is changing debate on explainability, says Deutsche
Innovation head says observability can aid regulatory acceptance
Banks grapple with concentration risk from fourth parties
Risk Live: Third-party vendors are increasingly reliant on the same subcontractors
Regulator warns against ‘happy endings’ for op risk wargames
Risk Live: Bankers say third parties should also be at the table when simulating crisis scenarios
FDIC security woes make banks sweat over supervisory data
Fears over confidential reporting after inspection urges regulator to address cyber “weaknesses”
FCA warns on third-party risk management for AI projects
UK regulator keeping close eye on use of cloud and vendor partnerships to develop new models
Vendors under new scrutiny in CFTC due diligence push
Planned cyber resilience regime will force dealers to subject “critical” tech vendors to stricter audit
Banks call for direct oversight of cloud providers by US regulators
Tri-opoly of cloud vendors “poses systemic risk” to financial sector, say risk managers
Third-party guidance spurs US bank rethink on fintech partners
For conventional vendors, banks say due diligence rules will be the toughest challenge
Citi cyber chief says AI providing new weapons in hacking wars
Barron-DiCamillo also urges regulators to work with industry best practice, not against it
Dora ‘critical tech vendor’ designation could cast a wide net
Experts think cloud services, data providers and software firms are all in regulators’ sights
FMIs pose greatest challenge for operational resilience tests
Risk Live: Calls for large-scale industry exercises to plan what happens if major CCPs go down
SEC cyber rules risk creating web of confusion and costs
Proposals would require breach notifications, public disclosures and annual cyber assessments
CFTC chair gloomy over crypto legislation prospects
FIA Boca 2023: Behnam also asks Congress to grant more powers to regulate third-party tech providers