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Issue #3

Issue #3Rebranding Operational Risk?: Rebranding is rarely a success nor does it usually improve the thing it is rebranding. Operational Risk has been replaced by Conduct Risk and it is the role of the FCA to mitigate this.
 
News: Four banks fail US stress test; Retail Conduct Risk Outlook shows future focus; Double blow for Goldmans; Banks brace for another scandal; RBS hands back parts of ABN Amro; CFTC acts to secure client funds; Charades-playing banker fined for improper conduct; Banking banana skins; ETF settlement fails under SEC investigation
 
Inherently Flawed from the Bottom Up: Bottom up risk assessments chew up time and resources for little benefit, says Jonathan Howitt, better to focus on the top down perspective.
 
Opening the Door on Hedge Fund Infrastructure: Shaken by recent events such as Madoff and the broader financial crisis, investors are demanding hedge funds demonstrate greater and more robust operational infrastructure.
 
Giving the Right Advice: The scenario this month involves the provision of inadequate, incorrect or inappropriate advice by the firm or a member of staff to customers and clients.
 
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.
 
On Your Marks...: Businesses have been advised to arm themselves with robust inbound voice continuity plans ahead of London 2012. Andrew Bale, CEO of Resilient Networks investigates.
 
A Question of Conduct: Regulators are focused on improving the conduct of financial services firms and as such, managing 'conduct risk' needs to be priority. Ellen Davis reports.
 
How To... Incorporate BEFs into Pillar 1 Calculations: Mike Finlay, CEO of RiskBusiness International Limited sets out an easy to follow, step-by-step guide to incorporating business environment factors into your Pillar 1 calculations for operational risk.
 
Debt Recovery Practices: RiskBusiness' Mike Finlay explores impermissible debt collection practices - a risk category which is repeatedly in the news, particularly in the US in the area of mortgage foreclosures.
 
Classified: Find all your job advertisements here alongside information on upcoming industry events and The Risk Universe monthly comic.