The Senior Supervisors Group (SSG) has recently published a report that assesses the progress financial institutions have made in developing and building infrastructures to measure their risk appetite. This report is a follow up to their 2008 report which identified key weaknesses in many risk management practices. The risk team at any financial institution is
Operational Risk
Reputational Risk: Don’t Pull a Tiger Woods
In the past year, it has become blaringly obvious how important a company’s reputation is to their bottom line. With situations like the BP oil spill, Toyota’s incident with faulty brakes and the whole Tiger Woods scandal, we have seen why companies need plans in place to protect their reputations in the wake of a
Back-Office
Asia Does it Again
A recent study conducted by Omgeo revealed a direct correlation between the percentages of Same Day Affirmation (SDA) scores with settlement efficiency. The data for the study came from SDA scores of firms using Omgeo services representing 46 countries and averaging 24 million trades/month and settlement efficiency rates as measured by Global Custodian surveys of
Back-Office
Operational Risk – the Overlooked Necessity
Guest Contributer: Charles Garcia, Head of Sales, North America, Sophis As financial firms plan their budget allocations for 2011 and beyond, the one crucial area where some companies fail to focus, and which can wind up a costly mistake, is operational risk management. Following the global financial crisis’ industry-wide spending freeze, firms are now finally
Compliance
Banks Get Nine Years to Life
The Basel Committee on Bank Supervision recently released the new Basel III requirements. That’s right. Basel II worked so well that banks had enough capital on hand to withstand the recent financial crisis without significant bailout (cough, cough), so why not continue on with that idea? Just increase requirements, give banks a bunch of time
Back-Office
Are You Underestimating Risk?
Risk is always an issue for investors, but lately are investors overlooking key risk indicators such as global inflation? With volatility playing a huge role in the market lately, and systemic risk being a large influence, what should investors pay attention to? Check out this video to see what Chief Executive, Dean Curnutt of Macro
