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Issue #24

Issue #24Editor's Letter - Governance and compliance: Making headlines this month is the passage of the Volcker rule and the increased compliance burden.
 
News: Volcker Rule approved; RBS ordered to review business practices; Industry calls for cyber legislation; Natwest suffers outage and cyberattack; Bank of England again warns of cyber threats; EU fines eight banks; Comms monitoring gets serious; ESAs publish products guidance; FCA fines LloydsTSB and BoS for inadequate incentive schemes; IOR publishes risk culture sound practices paper.
 
Downfall: There are many recent examples of governance failings leading to bank crises, often ending in the resignation of chairman and CEO. The Risk Universe asks whether this is always the best course of action.
 
Spotlight - Under pressure: From chief executives to the lowest level intern, working in the cut throat world of global finance can take its toll on mental health. Following several high-profile resignations and indeed suicides, Victoria Tozer-Pennington takes a closer look at the operational risk impact of stress in the workplace.
 
How To... Recognise and manage stress in employees: Dr Genevieve von Lob examines the signs of stress and how to best manage stressed employees.
 
Rating cyber risk vendors: As the cyber threat continues to increase, firms are seeking qualified cyber risk rating firms to help risk managers understand the state of cyber risk to extended corporate networks.
 
Sharing Scenarios - Loss of key staff: This month’s scenario looks at the risks related to the loss of key staff that have unique skills and/or knowledge who cannot be replaced.
 
Dear CEO: Every month an anonymous chief risk officer of a financial services firm writes a letter to his CEO detailing some of the issues he has always wanted to raise.
 
Risk Classifications - Staff poaching by external party: RiskBusiness International’s Mike Finlay takes a look at what often becomes a very contentious issue between rival firms, namely poaching staff from a competitor.
 
Classified: Find all your job advertisements here alongside information on upcoming industry events and The Risk Universe monthly comic.