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| Risk Industry Resources |
| Articles |
1. Interview with Jack S. Dybalski, VP and Chief Risk Officer, Xcel Energy |
Source: Marcus Evans |
Uploaded on: 31 Jan 2012 |
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In this challenging environment, board members and management executives are striving to maintain their tight grip on costs while maintaining a proper focus on enterprise-wide risk.
Jack S. Dybalski is Vice President and Chief Risk Officer at Xcel Energy. He will be a key speaker at the marcus evans 5th Annual Enterprise Risk Management Conference taking place in from March 19-21, 2012 in Chicago, IL.
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2. Implementing Basel III : Challenges, Options |
Source: Author: Pierre-Etienne Chabanel, Senior Director, Moody’s Analytics |
Uploaded on: 03 Jan 2012 |
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This Whitepaper explores the most significant challenge facing banks when they are implementing Basel III—the need to balance the interests of the business against the needs of the regulator. It also looks at management’s impact on risk and finance; the implications of different countries taking different approaches to Basel III; the issues surrounding managing data quality and stress testing; the issue of auditing the regulatory data; the complexities of managing Basel I, II and III side-by-side, and the challenges of integrating disparate backoffice banking systems into a cohesive Basel III management framework.
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3. Collateral management: a hot topic in the face of regulatory reform |
Source: QuartetFS |
Uploaded on: 23 Nov 2011 |
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Allen Whipple, US Director of Quartet FS, www.quartetfs.com
Since the Dodd-Frank Wall Street Reform Act was passed in the U.S. in 2010, regulatory reform of the OTC (over-the-counter) derivatives markets has also rolled out across Europe, resulting in a new, pan-Atlantic focus on the processes governing this asset class. The change from over-the-counter processing to clearance through a central counterparty will increase the need for closer collateral management, but are financial institutions ready?
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4. FSA mobile recording regulations |
Source: Compliant Phones |
Uploaded on: 13 Sep 2011 |
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Curtis Nash, CEO of Compliant Phones, a UK-based company at the heart of global reliable recording technology, explores the looming FSA mobile recording regulations and provides an insight into the key considerations for financial institutions selecting their recording technology.
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5. Ever-evolving regulation - Tim Brew, Market Development Director |
Source: Logica |
Uploaded on: 31 Aug 2011 |
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Regulation is constantly changing becoming more complex and more frequent. In this piece, Logica GPB’s market development director Tim Brew discusses how banks are striving to understand these new requirements and how these will affect their daily processes and operations. He also looks at how forward thinking financial institutions will realise that the information they gather for the regulators can empower decision making and will opt for technology solutions that will help them use their investment on regulation to their own advantage.
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6. ERM Outlook - Where is ERM Going? |
Source: Marcus Evans |
Uploaded on: 25 Jul 2011 |
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Interview with Howard Rosen, Senior Director and Insurance ERM Practice Leader for Standard & Poor’s
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7. Liquidity Risk in Portfolio Process |
Source: Sybase |
Uploaded on: 14 Apr 2011 |
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Liquidity risk in portfolio process (i.e. what is the liquidity of a particular security/30 days survival) EMEA
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8. Operational due diligence – early & often is key for investors |
Source: GlobeOp Financial Services |
Uploaded on: 22 Feb 2011 |
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The financial crisis, Madoff-related events and recent hedge fund capital-raising activity shifted the balance of power to investors, and brought the issue of operational risk management to the fore in people’s thinking. Vernon Barback, president & chief operating officer of GlobeOp Financial Services, discusses the need for earlier and more regular due diligence. He also addresses how investors increasingly require proof of good governance, transparent processes and controls, and fully independent reconciliations and valuations.
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9. Cost of Compliance Survey 2011 |
Source: Thomson Reuters |
Uploaded on: 15 Feb 2011 |
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Thomson Reuters’ Governance, Risk and Compliance (GRC) business has published its second annual Cost of Compliance Survey for 2011 which reveals that firms expect another year of increased regulatory transformation and require more time, effort and money in order to manage the avalanche of changes.
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10. The impact of electronic trading on risk management in the FX market by Xavier Bellouard, co-founder at Quartet FS |
Source: QuartetFS |
Uploaded on: 02 Dec 2010 |
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The electronic trading boom in the equities space has caused significant changes not least in terms of the increased trading volumes and lowered latency. Players in the FX space are now looking to electronic trading in the equities market as a benchmark to successful adoption. However, the vast differences between the two markets means that many of the challenges the FX market face in replicating this success are asset specific and much of the way is unpaved – especially in regards to risk management. Xavier Bellouard, co-founder at Quartet FS, considers how the FX market will need to adapt to manage risk within this new landscape.
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11. Structured finance perspectivesInvestor due diligence comes into focus - |
Source: Principia Partners |
Uploaded on: 09 Nov 2010 |
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Over 500 structured finance market participants from 200 organizations took part in Principia's best practices survey. The results are analyzed here with a focus on investor due diligence requirements as the market returns on a more stable footing. What are the most important aspects of satisfying due diligence requirements? How well does the industry currently perform in these areas? What are the best practices investors can adopt to address these challenges?
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12. From risk junction to destination governance |
Source: Logica |
Uploaded on: 19 Oct 2010 |
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The financial crisis has taught us that in banking, we have to manage risk better, improve processes, tighten controls and become more transparent. Regulators globally seem to have taken these lessons learned closely to heart and as such the industry is overwhelmed with new legislation, directives, schemes and standards. In this article, Sébastien Boscheiro, risk and regulation manager of financial services at Logica, looks at the challenges this increased regulation presents and how banks can ensure good governance – across the board.
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13. Sanctions screening – the quest for efficiency and effectiveness |
Source: Logica |
Uploaded on: 05 Oct 2010 |
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When it comes to filtering payments against sanctioned entities, targets are averting prevention methods through increasingly more sophisticated approaches, designed to keep their misconduct firmly under the radar. While banks are also advancing their own strategies to detect illegally moving money, simply preventing it from being laundered isn’t the only challenge faced. John Evans, director of financial crime solutions at Logica, examines these challenges and how banks can best address these threats by increasing both their efficiency and their effectiveness.
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14. Managing Compliance and Transparency Post Crisis |
Source: Linedata |
Uploaded on: 30 Sep 2010 |
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Today you are facing increased demands for transparency and disclosure from investors and regulators. At the same time, with lower management fees becoming the norm, you have fewer resources available to meet those demands.
Eighteen months ago you had to “do more with less” and you have done as much with “less” as humanly possible. Now it is clear that you need to invest in compliance. Staying ahead of pending regulation without robust, auditable infrastructure can be dangerous or outright fatal.
Taking the wrong approach to the compliance investment can be devastating as well.
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15. Fighting money laundering in Brazil - A Case Study |
Source: RTM |
Uploaded on: 25 Aug 2010 |
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HotScan deployed in country’s largest financial services network
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16. Comply or compete? Data governance delivers the balance |
Source: PaceMetrics |
Uploaded on: 25 Aug 2010 |
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While the liquidity requirements of the impending Basel III financial reform have been pared back, the regulatory reporting demands on banks remain a vast challenge – especially in terms of data management.
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17. Tackling the counterparty risk conundrum by Xavier Bellouard, co-founder at Quartet FS |
Source: QuartetFS |
Uploaded on: 10 Aug 2010 |
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A number of surveys released in the first half of 2010 have unanimously agreed that risk managers need to have better access to data, especially related to credit risk, in order to gain a thorough view of counterparty risk exposure. However, still reeling from the collapse of Lehman’s, forward thinking financial institutions are now casting the net further and wider within their counterparty risk calculations.
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18. The Ernst & Young Business Risk Report |
Source: Ernst & Young |
Uploaded on: 22 Jul 2010 |
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In today’s business environment, conditions remain challenging for
many, and risk retains its position high on every organization’s agenda.
Businesses themselves are changing, which brings new risk horizons and,
at the same time, they are grappling with the changes brought about by
a post-downturn economy. The ability to anticipate threats, respond and
continually adapt is as critical a part of the risk management process as it
ever has been.
The third in its series, our Business Risk 2010 report is part of an ongoing conversation
about business risk — a conversation that has been taking place for several years, asking
the question: are companies scanning their horizons and with what scope?
In this report, we explore the global top 10 risks facing businesses that have emerged from
our study, and we share the thinking of some of the leading industry-based and academic
commentators to whom we have spoken.
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19. Optimising Critical SOX & MAR Strategies in the Re/insurance Industry - Gonsalves Interview |
Source: Marcus Evans |
Uploaded on: 13 Apr 2010 |
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An interview with Judith Gonsalves, Director of Accounting Policy at Liberty Mutual
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20. Mercuria Commodity Analysis, A Case Study |
Source: CubeLogic |
Uploaded on: 23 Mar 2010 |
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The Mercuria team had a requirement for a specialist tool to monitor commodity markets globally in order to assist their trading decisions. It required a large amount of data aggregation of the commodity market data with some specialist calculations and had to be highly flexible to service the changing demands of the trading desk.
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| Technical Papers |
1. MULTI-DIRECTIONAL OPTIMISATION ON THE GPU |
Source: Risk Care |
Uploaded on: 18 May 2010 |
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RiskCare's Niels Stchedroff explains how the multi-directional technique - a powerful optimisation tool with portfolio management implications - is literally orders of magnitude faster on a graphical processing unit than on a central processing unit."
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| White Papers |
1. Managing Compliance and Transparency Post Crisis |
Source: Linedata |
Uploaded on: 30 Sep 2010 |
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Today you are facing increased demands for transparency and disclosure from investors and regulators. At the same time, with lower management fees becoming the norm, you have fewer resources available to meet those demands.
Eighteen months ago you had to “do more with less” and you have done as much with “less” as humanly possible. Now it is clear that you need to invest in compliance. Staying ahead of pending regulation without robust, auditable infrastructure can be dangerous or outright fatal.
Taking the wrong approach to the compliance investment can be devastating as well.
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2. 2010 EMEA Business Continuity Benchmark Report |
Source: Marsh |
Uploaded on: 15 Jun 2010 |
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In 2008, Marsh completed the first European wide Business
Continuity Management (BCM) survey. This survey highlighted
the growing acceptance of BCM throughout a wide range
of organisations and the advantages that could be gained by
integrating it into their organisations. In 2010, Marsh conducted
another survey, using a similar question set but incorporating a
wider array of responses from the Middle East. These results give an
insight into the current state of the market as well as allowing the
identification of trends over the past two years.
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3. Razor White Paper: Achieving Accurate Value at Risk Calculations |
Source: Razor Risk |
Uploaded on: 13 May 2010 |
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Following the financial crisis of 2007/2008, the Value at Risk (VaR) calculation method, arguably the most broadly utilised method of risk management, has come under increasing levels of scrutiny for its failure to provide accurate results. This paper examines the reasons behind the perceived failure of risk management up to and during the economic downturn.
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4. Is there a Solution to the Spreadsheet Dilemma? |
Source: CubeLogic |
Uploaded on: 23 Mar 2010 |
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Many investment banks and energy/commodity trading companies still use spreadsheets for many of the mission critical tasks such as market and credit risk reporting. This is despite the well know shortcomings of spreadsheets such as security, version control and the sheer amount of manual effort required to keep the spreadsheets up to date and loaded with current data.
Spreadsheets are however universally accepted as tools that most people are familiar with and produce fast and cost effective bespoke solutions that do not require months of software development. This paper discusses an new alternative that has the benefits of a familiar spreadsheet but removes the inherent risks that spreadsheets bring.
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5. Payment card processing – what you need to know to conform to the Payment Card Industry Data Security Standard (PCI DSS) |
Source: Advent IM |
Uploaded on: 11 Nov 2009 |
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Organisations that transmit, store or process payment card details and that fail to comply with the Payment Card Industry Data Security Standard (PCI DSS) face serious penalties and potential fines of £50K+, damage to brand reputation, loss of business and the risk of closure, says Mike Gillespie, Director at independent protective security consultancy, Advent IM (www.advent-im.co.uk). It’s an issue of great concern to many businesses and a topic much debated on business forums.
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6. Facilities and Risk Management |
Source: Advent IM |
Uploaded on: 11 Nov 2009 |
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Economic and personnel resources are increasingly being cut back. Consequently, Facility Managers and Risk Managers are feeling the knock-on effect of having more responsibility placed upon their shoulders; security provision being one. Steve Garton, Director at Advent IM, outlines security issues facing these workers, highlights applicable physical security standards that need to be complied with and offers advice about ways security can be handled, irrespective of that worker’s skill-set or security knowledge.
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7. Liquidity Risk Management |
Source: Razor Risk Technologies |
Uploaded on: 11 Nov 2009 |
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From October 2009, the Financial Services Authority
(FSA) requires all UK banks, building societies
and investment firms to report their liquidity risk.
Given the level of detail, frequency and stress
testing requirements, as well as the implementation
deadlines, the new rules present a significant
challenge to most financial institutions.
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8. Ready for the recovery |
Source: McKinney Rogers |
Uploaded on: 16 Sep 2009 |
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Foreword from Damian McKinney
The world’s economy has been hit by a recession of rare severity, and every sector has suffered.
Happily, fears of a repeat of the Great Depression were not realized and, at the time of writing, the
debate is now more about the prospect of green shoots and whether they have appeared.
As performance and leadership consultants, McKinney Rogers is interested in whether, faced with
such dramatic chaos in the global economy, business directors were able to react quickly, review
priorities and implement effective measures.
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9. Liquidity Risk |
Source: RiskMetrics |
Uploaded on: 17 Jul 2009 |
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Though we are by now accustomed to the exhortations to measure liquidity risk or define a liquidity risk appetite, there are still few precise definitions of what liquidity risk actually is. In a recent paper Acerbi and Scandolo propose a formalism that links asset liquidity, in the form of market depth, with funding liquidity, in the form of an institution's specific needs, and revisits even the notion of portfolio valuation. The paper being somewhat abstract, we summarize its ideas and provide some discussion in a non-technical setting.
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10. Reforming Financial Markets |
Source: HM Treasury (Crown copyright) |
Uploaded on: 09 Jul 2009 |
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The world economy has been hit by a severe financial crisis, resulting in the worst global
economic downturn for over 60 years. Triggered by difficulties in the US housing market that
exposed the way that banks and other lenders had been underestimating real risks for too long,
the crisis spread so quickly throughout global financial markets that banking systems around the
world were severely destabilised. As a result, the impact has spread beyond the financial system,
hitting economic growth, prosperity and jobs throughout the world.
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11. Optimization Applications in Finance |
Source: ILOG |
Uploaded on: 19 Jun 2009 |
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The recent crisis in the finance, securities, banking, and insurance industries has focused executive attention on near-term issues of survival and recovery, especially managing risk, while diverting attention from, improving operational efficiency, and building customer relationships. Yet these latter factors remain important competitive advantages for leading companies in the financial sector.
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12. Enterprise-wide, Cross-Asset Risk Management Takes Charge |
Source: Sapient |
Uploaded on: 28 Jan 2009 |
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The unprecedented events impacting global financial markets in recent months have underscored the need for firms to review their current practices and develop an enterprise vision for risk management as a business imperative. If firms are to implement an effective risk management infrastructure they need to conduct a systematic review of all risk processes, policies and systems—from C-level, to trading, to operations.
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13. Can Firms Prepare in Advance for a Major Default in the Market? |
Source: SunGard Adaptiv |
Uploaded on: 22 Sep 2008 |
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Over the last week, seismic events have fundamentally altered the
capital markets landscape. Weary eyed risk professionals have spent
15 hour days answering a multitude of management concerns:
How exposed are we?
Could this have been foreseen?
Would it have made a difference?
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14. Cross-Regulation Compliance |
Source: CheckFree |
Uploaded on: 12 May 2008 |
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Embracing the Paradigm Shift from "Necessary Evil" to "Pervasively Achievable" - Realizing Operating Efficiency, Risk Mitigation and Compliance Across the Enterprise
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15. FSA Data Security in Financial Services Report |
Source: Financial Services Authority (FSA) |
Uploaded on: 30 Apr 2008 |
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Firms’ controls to prevent data loss by their employees and third-party suppliers
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16. Annual Risk Software Report |
Source: allaboutrisk.com |
Uploaded on: 30 Apr 2008 |
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The inaugural Annual Risk Software report details the latest offerings from risk and compliance vendors including new features and functionality that will be introduced to their risk offerings in 2008.
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17. Towards Comprehensive Simulation of Complex Credit Structures |
Source: SunGard |
Uploaded on: 20 Feb 2008 |
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The last five years has seen an enormous
increase in focus on the subject of credit.
This focus has ranged from the creation and
use of credit-based derivatives, the role of
credit rating agencies and the measurement,
modelling and pricing of credit risk.
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18. Internet Security Threat Report |
Source: Symantec |
Uploaded on: 26 Nov 2007 |
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The Symantec Internet Security Threat Report offers analysis and discussion of threat activity over a six-month period. It covers Internet attacks, vulnerabilities, malicious code, Phishing, spam and security risks as well as future trends. The twelfth version of the report, released September 17, 2007, is now available.
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19. IT Risks |
Source: Symantec |
Uploaded on: 26 Nov 2007 |
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Business risks can range from everyday operational shortcomings to rare cataclysmic failures. Over the past decade, Information Technology (IT) systems have become critical to every aspect of business resulting in a level of dependence on IT not seen in the past. As a result, IT Risk, once a minor component of operational risk, is emerging as a major hazard for organizations to identify and manage.
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20. A Balanced Approach to MiFID Compliance |
Source: Symantec |
Uploaded on: 09 Nov 2007 |
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As the November 2007 deadline aproaches for compliance with the European Union’s Markets in
Financial Instruments Directive (MiFID), the financial press is sounding an alarm about compliance
costs. And many financial services firms are delaying their implementation of compliance programs,
hoping for a reprieve.
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21. Event Horizon - Operational Risk Event Types |
Source: RiskBusiness |
Uploaded on: 23 Oct 2007 |
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Rick Cech takes a second look at what makes up operational risk event types,
and asks if there is a more advanced way to define them
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22. Building shareholder value by building a culture of risk awareness |
Source: GARP |
Uploaded on: 23 Oct 2007 |
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Protecting shareholder value by ensuring
that a company's risks are competently
managed is an important responsibility
of any chief executive officer (CEO), a
responsibility that is increasingly acknowledged
by the appointment of a chief risk officer (CRO).
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