Risk management/Operational risk
Subprime crisis shows why firms need ORM
It's hard to not be a bit worried by the subprime crisis and the spin-off events that have cascaded through the financial markets over the past few weeks. And it is ironic that the crisis kicked off in the US, where regulators have made such an unholy…
The urge to converge
Convergence is a clear goal for many in the industry, but uniform implementation is proving tricky, finds the latest survey from OpRisk & Compliance and Ernst & Young
Algorithmics highlights the most influential op risk events of the past 15 years
Daily news headlines
Australia revises Basel II standardised approaches
Daily news headlines
Keeping the wheels turning
When confronted with business continuity issues, energy giant E.ON used to turn to a printed manual. Now it has introduced a constantly evolving system to deal with BCP challenges. Duncan Wood investigates
The forensic approach
PROFILE: SEBASTIAN FRITZ-MORGENTHAL
Brazil looks to controls
New legislation in Brazil on banking systems and controls has triggered a flood of sales from large accountancy firms and specialist service providers. John Rumsey looks at the new rules and how Brazilian banks are responding
Standing on the threshold
A 'one distribution fits all' approach is not the best option for op risk models. Carsten Steinhoff and Rainer Baule explain why a tailor-made model is therefore vital to the accuracy of loss distribution models
The risk information challenge: Bringing technology to bear
A roundtable discussion hosted by OpRisk&Compliance and sponsored by BearingPoint explored the difficulties around obtaining robust risk information and disseminating intelligence back into the organisation. Moderated by Ellen Davis
How operational risk protocols can forestall disaster
Could the subprime mortgage crisis – now estimated to have cost between $50 billion and $100 billion – be the opportunity that the discipline of operational risk has been waiting for?
Banking on a more advanced approach
Banks must review their advanced measurement approach models if they are to experience a smooth transition under the new Basel II regime. By Thomas Kaiser, of consultants KPMG
Bringing down the house
There is evidence to support the claim that the subprime mortgage crisis in the US may have had its roots in operational risk problems. But just what caused the crisis, and could it have been averted if the firms involved had robust op risk frameworks in…
In the line of fire
In the global fight against money laundering, financial institutions are developing various hi-tech weapons. Peter Madigan reports
Risk information: science or art?
Industry experts gathered for a roundtable discussion in New York at the end of May to debate the ways firms acquire and use information about risks. Moderated by Ellen Davis
The trouble with GRC
Governance, risk and compliance is posing thorny challenges for many executives
Op risk can learn from Berlin's renaissance
I was in Berlin in June at a conference on business processes. Now, some people might think this is probably not how they would choose to spend their time. But the event was something of a revelation to me.
New report blames op risk failures for sub-prime meltdown
Op risk: a culprit in sub-prime mortgage crisis
Future options
Operational risk derivatives have been touted for a few years now, but interest in them moves in waves. The current tide is high, however. Duncan Wood tests the water
Defining the boundaries
PROFILE: HIM CHUAN LIM
The principles of distribution fitting
TECHNICAL
What to do with the treasure we've found?
This month, I've quite literally been around the world checking on the state of the operational risk industry. From my base in London, I've been to our conferences in both Singapore and New York.
Room for improvement
Sungard tops our survey of software vendors, its products proving a hit across the op risk and compliance spectrum. But op risk executives continue to demand more from the software industry, reports Dianne See Morrison