Big Data made quite a splash across several industries, but its adoption in the financial services sector has been highly fragmented. Yet it’s becoming clear that Big Data offers some operational advantages as financial services firm adjust to the new regulation-driven regime of risk management, according to a new report by market research firm Celent,… Read More >>
Wolters Kluwer Gathers GRFC Tools Under OneSumX
Wolters Kluwer Financial Services has launched OneSumX, a governance, finance, risk and compliance (GFRC) tool that the company calls an “ecosystem of GFRC solutions and services [that] will enable financial organizations to create their own, specific GFRC vision.” OneSumX replaces many of Wolters Kluwer’s current solutions and brands, including ARC Logics, BankReg, Financial Studio, Summix,… Read More >>
AxiomSL Names CFO/COO for Asia-Pacific Region
Regulatory reporting and risk management solution vendor AxiomSL has named Raymond Tse to be its chief financial officer and chief operating officer for the Asia-Pacific region, according to a company statement. As CFO and COO, Tse “will drive AxiomSL’s corporate vision, financial resources and all operations with the goal of expanding and growing in line… Read More >>
Ex-Deriv/SERV CEO Joins Clarus Board
Clarus Financial Technology reports that Sandy Broderick, the former CEO of DTCC’s Deriv/SERV, has been named to its advisory board. Deriv/SERV is the DTCC subsidiary that provides automated repository and asset servicing for over-the-counter (OTC) credit derivatives trades. Broderick, a capital markets veteran, headed DTCC Deriv/SERV “through the rollout of its Global Trade Repository in… Read More >>
Regulatory & Investor Demands Spur New Respect for Risk Ops
Risk management operations is finally coming into its own as post-Great Recession regulatory and investor pressures begin to bear down on buy- and sell-side firms in the U.S. and the European Union. On the sell side, big banks in the U.S. and the EU are being forced to take action by the crack of the… Read More >>
FCM360 Promotes for Head of ETRM/CTRM Wares
FCM360, a provider of trading system hosting and exchange connectivity, has promoted Ron Villarin, a former NYMEX energy trader and broker, to head its expanded energy trading and risk management and commodity trading and risk management (ETRM/CTRM) operations, according to a company statement. FCM360 got its start serving the high-frequency, low-latency, foreign exchange (forex) trading… Read More >>
OCC Orders Banks to Stop ‘Excessive Risk’
Board members of financial services firms are being told to take a more active role in pushing compliance with “safe and sound” banking practices and to oppose management proposals with “excessive risk taking,” according to the final guidelines on governance and risk management practices published by the Office of the Comptroller of the Currency (OCC)…. Read More >>
Survey: Risk Management Becoming More Strategic
Once viewed as a burdensome regulatory obligation, risk management is increasingly seen as a strategic core competency, according to a global survey of 200 risk managers carried out by SunGard and the Professional Risk Managers’ International Association (PRMIA). Key findings revealed: Stress testing capabilities were ranked as being lower priority than collateral consolidation and asset… Read More >>
Survey: Firms Keeping Bilateral OTC Trading
Despite the regulatory push for cleared and executed over-the-counter (OTC) derivatives, the bilateral OTC market shows no signs of disappearing, according to a survey done by InteDelta, a specialist risk management consultancy. From April to June 2014, InteDelta completed a global survey of derivatives market participants to assess the impacts of regulatory reforms upon the… Read More >>
Regulatory Onslaught Brings New Respect for Compliance
Over the past few years chief compliance officers (CCOs) have gone from wet blankets to hot tickets. In the process they’ve seen their job description undergo a shift just as fundamental as the rapidly changing regulations whose impact on financial services firms have thrust CCOs into the spotlight. The job market for CCOs and other… Read More >>
