Risk management/Operational risk
3LOD helps bolster risk culture – banks
Credit Suisse links metrics gleaned from first- and second-line risk managers to pay decisions
Fed risk rating system unifies stress testing and 3LOD
Some banks have qualms over potential downgrades and overlap between first and second lines
CCPs hike spending on cyber defences
“The thing OCC spent the most incremental funding on in 2017 was improving cyber security,” says COO
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Thomas Lee, chief executive and co-founder of Vivo Security – a start-up firm based in Silicon Valley and sponsors at OpRisk North America – talks about how special the banking industry is to Vivo Security and why its approach to model risk management…
KYC concern slows asset managers’ move into China
Rush into $2.2 trillion China funds market tempered by problems obtaining client data
Monthly op risk losses: China’s Anbang faces huge fraud hit
Also: in-depth look at multi-billion fraud in Indian banking system. Data by ORX News
How not to control trading behaviour
Quants show popular risk measures fail to limit risk-seeking behaviour among traders
Curbing rogue behaviour
Regulators should try to combat rogue trading by measuring traders’ risk-taking differently, say quants
Maybank takes to the dark web to tackle hackers
Bank’s CRO and CTO discuss front-foot approach to cyber threats
Fed’s risk proposal puts banks on the defensive
New supervisory guidance will make business heads responsible for risk management
Scotiabank’s Daniel Moore on the evolution of the CRO
Data and technology will help risk managers improve risk-adjusted returns
Barclays op risk chief departs
Outgoing head to be replaced by chief controls officer at the UK bank’s group service company
Fed’s Curti: SMA will smooth capital mismatches
OpRisk North America: non-US banks holding less capital under own-models approach was “a big problem”, says regulator
Web-enabled devices raise cyber risk fears
OpRisk North America: banks wary of growth in ‘internet of things’
German power firm faces elevated op risks in Russia
OpRisk North America: clusters of risks cause problems for Uniper
Cyber security expert issues call to modernise Patriot Act
OpRisk North America: current policies make it difficult to share information on cyber attacks
Cyber regulations prompt banks to elevate Ciso role
OpRisk North America: Information security increasingly seen as risk management function
CCAR gives op risk modelling a new lease of life
OpRisk North America: Fed’s annual stress tests are rehabilitating ‘black box’ op risk modelling
UBS hoping for capital relief for past op risk losses
OpRisk North America: Swiss bank has taken action to prevent a repeat of costly missteps
Precise cyber modelling ‘a pipe dream’, expert says
OpRisk North America: Cyber risk models should aim for accuracy, not precision
OCC forms working group to tackle fraud
OpRisk North America: Rise in cyber fraud prompts US regulator to reassess guidance to examiners
Monthly op risk losses: MetLife suffers $510m pension reversal
Also: UK credit card mis-selling; Italy crypto loss; LendingClub class action settlement. Data by ORX News
From Lehman to rupee crashes: India’s CCP chief on market stress
Risk chief sets about bolstering CCIL’s risk modelling, lookback periods, and portfolio compression
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