Financial crisis

The rotten core

The US is now closely examining the root causes of the subprime crisis, including mis-selling, fraud, poor internal controls and perverse incentive schemes. David Benyon explores these issues, and some potential solutions

Rethinking (operational) risk management

For operational risk managers to really make a difference to their firms' fortunes, they must be willing to get their hands dirty and face facts, no matter how scary the facts may be, says Sergio Scandizzo, in the second of a two-part series

A call to action

The global credit crunch shows just how much the world's financial services firms need to raise their game when it comes to risk management, says Charles Dallara, managing director of the Institute for International Finance. By Ellen Davis

Summer of discontent

Peter Madigan takes a look at how regulators in the US, UK and Europe have reacted to the events of the past summer, and the many rules and regulations practitioners can expect to face this autumn

Time to shine

In the wake of the subprime crisis and resulting global credit crunch, operational risk practitioners must seize the opportunity to prove the value of their discipline, says Ellen Davis

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…

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…

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