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Issue #11

Issue #11Enough is Enough: Enough is enough - Regulators, disgusted with the scale of operational risk events, are stepping up scrutiny of firms.
News: FSB focuses on operational risk; FSB issues RR guidance; Operational Risk Event Timeline; Banks deny energy market manipulation; Trading operational risk under scrutiny; Firms struggle with ICAAP; Sandy tests New York business continuity.
Culture Club: Jonathan Howitt takes a fresh look at the issue of risk appetite and argues that it is more about culture, not just capital and liquidity.
Ethical Misconduct: Is it your Biggest Risk?: This article forms part of a presentation Annie Searle made early in November 2012 at the Pacific Northwest Enterprise Risk Forum.
Ancient Culture Meets Modern Ethics: With the news that Nomura suffered yet another insider trading breach, The Risk Universe questions the effectiveness of operational risk management and compliance in the region.
How To... Measure Reputational Risk: In the eleventh of a series of monthly “How to” guides that seek to tackle those more difficult challenges relating to operational risk management, Mike Finlay, CEO of RiskBusiness, explains how to create a “reputational risk barometer”.
Core Transaction Capture System Outage: This month’s scenario involves system outages of core transaction capture systems. The results of last month’s fraudulent loan application scenario benchmark are also listed.
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.
Privacy Breach - Employee Data: This is a risk category which tends to be overshadowed by concerns around client and customer confidential information, yet which can be as costly, as embarrassing and potentially more damaging for the firm.
Classified: Find all your job advertisements here alongside information on upcoming industry events and The Risk Universe monthly comic.