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Issue #15

Issue #15Editor's Letter - Whatever Next?: The Senate report into the London Whale losses at JP Morgan makes for grim, but unsurprising, reading.
News: Senate harpoons JPMorgan: Banks hit by another wave of cyberattacks; AML Compliance in focus; Banker pay in disarray; Industry hits out at Solvency II interim measures; Banks fail because of operational risk; SEC levies record fine for insider trading.
Spotlight - Virtual Wallets: Banking and payment technology is rapidly evolving. Paying for goods with a smartphone is convenient for the customer but what are the risks?
Straight Talking: Carlos Montalvo Rebuelta, executive director of EIOPA, speaks about those Solvency II delays and how firms can extract the business benefit of the new rules and implement a
risk-based solvency regime for insurers
How To... Manage Emerging Risks: Although many firms identify and manage emerging risks, few employ a formal process to ensure oversight of these emerging threats to the firm. Mike Finlay suggests a methodical approach to managing emerging risks.
Perfect Pitch : Writing for Executives: Operational risk managers are adept at identifying risks and the best way to mitigate them. However, mitigation techniques usually require funds to implement, which means pitching to senior management. Annie Searle suggests some tips for getting your proposal heard.
Sharing Scenarios - Rogue Trading: A perennial problem in the trading and dealing rooms of every financial institution which has proven over time to reoccur time and time again, even when firms have decided that it just cannot happen here.
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 - Skimming and Electronic Eavesdropping: The use of electronic monitoring equipment to detect, intercept and record personal information.
Classified: Find all your job advertisements here alongside information on upcoming industry events and The Risk Universe monthly comic.