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Issue #10

Issue #10Nothing New Under the Sun: Nothing new under the sun – Hands up all who have been surprised by anything revealed during the UBS rogue trader trial?
News: US regulators take aim at financial crisis perpetrators; KDKE Indonesia launched; Operational risk event timeline; IRM’s risk events survey; Identity crime raises UK fraud; EBA Pillar 3 review released; More US banks to qualify for stress testing; Cyberattacks on the increase; Using social media to look inward; Are “kill switches” the answer to HFT risk?
Balancing Act: The three lines of defence model has become the accepted framework for firms’ management of operational risk, but in practice, some operational risk departments are finding it difficult to balance the requirement to remain independent with the need to help the business manage its own operational risks.
Managing Your Reputation: A survey conducted by KPMG in Germany, shows banks are working to embed reputational risk management into their organisations, albeit with varying progress and success.
How To... Manage Identity Requirements: Dr Stephen Christie looks at the very important issue of identity management –
assessing the mistakes made so far and proposing some solutions.
Fraudulent Loan Applications: This month’s scenario involves fraudulent loan applications by individuals or entities,
without identity misrepresentation, but who do not intend to repay the money.
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.
Assault and Bodily Harm to Staff: While it may not occur that frequently, assault and bodily harm to staff often causes
considerable confusion as to where events should be classified.
Classified: Find all your job advertisements here alongside information on upcoming industry events and The Risk Universe monthly comic.