Risk Management Systems Insights
1st August 2018
On July 31, the US Office of the Comptroller of the Currency announced it would begin accepting national charter applications from fintech firms, granting them federal rather than state oversight for the first time.
The impact could be seismic for financial service providers in the country.
For fintech and online lenders, it should come as... read more
31st July 2018
This article updates Six stages to a robust operational risk framework, written by Richard Pike in September 2011. It explains how a financial services company can create and implement a stable and manageable framework for risk management.
1. Risk identification
In this section in the previous article I talked about the process of... read more
30th July 2018
Time and again, the legitimacy and value of the spreadsheet to business, and in particular to the finance department is questioned, given the numerous times spreadsheet errors have caused significant issue for organisations. But the reality is that for all its shortcomings, this humble tool remains essential for core business processes and remains... read more
26th July 2018
Driving to Digital
In an era of digital transformation, not to mention a lot of economic and regulatory change, for many organizations this means unprecedented pressure to deliver new innovation to remain relevant and competitive. With studies revealing that only 5% of organizations winning at digital transformation, the ever-increasing pace and... read more
23rd July 2018
Cyber criminals are frequently targeting systemically vital infrastructure in healthcare, government and finance, and are increasingly sponsored by nation states.
Last week, 1.5m medical records were stolen from SingaHealth, Singapore’s main healthcare group, with the hackers acting on political motivation by "specifically and... read more
20th July 2018
We are nearly at the edge of a new decade, and as we approach it, developments that once left like science fiction are widely considered part of our everyday lives.
Video calls, smart phones, the end of physical money that every day draws closer as cryptocurrencies and digital transfers grow in popularity, the uptake in near-field communication,... read more
17th July 2018
The second markets in financial instruments directive (Mifid II), which came into force on January 3, continues to put pressure on market participants. Clause 16.7 of the directive, which requires firms to record communications linked to a trade to be recorded and made accessible to regulators should they require it, has been particularly onus: a... read more
16th July 2018
Every cloud has a silver lining, at least that's what our elders drummed into us, an early example of expectation management and how to deal with life's challenges. Other teaching proxies included looking after the family dog, a somewhat more practical and physical learning experience, involving across the board responsibilities of duty of... read more
10th July 2018
Regulatory changes and technological innovations lead banks to transform their business models to better manage risk, enhance client service and thus remain competitive, flexible and agile. In particular, the financial services organisations need to deploy a framework to support Basel III (for capital requirements and liquidity risk), Mifid II (for... read more
10th July 2018
Fintech market participants are growing wary of the impact of Brexit, with some suggesting the recruitment pool will be the most pressing issue.
“It’s the joy of living in a single market zone,” said Asif Faruque, of Level39, at Fintech Week London 2018, “but Brexit will seriously hamper access to talent. It needs to be... read more