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Issue #17

Issue #17Editor's Letter: Are firms doing enough to rebuild public trust?
News: New recruits shun banking; New bill seeks to end TBTF; Global cyber heist; APRA to replace risk management rules; FINRA fines three firms for AML failings; Kenya launches mobile money laundering crackdown; FCA fines EFG Private Bank for AML failures; FINMA gets new enforcement powers; PRA boss derides Solvency II; #OpUSA fails to deliver; FERC proposes new cyber security standards; EU investigates possible oil-price manipulation.
News Opinion - Conduct risk: TCF on steroids?: Based on the sold-out attendance at a recent breakfast briefing on conduct risk management, it is fair to say that all firms are taking the new Financial Conduct Authority‚Äôs powers seriously.
Spotlight - Learning from loss: Peru will require banks to share their operational risk loss data in a national database. Regulators from SBS, journeyed to the UK and Europe on a fact-finding mission to learn from other established loss data consortia.
How To... Conduct effective complaints root cause analysis: As complaints increase and are made public, it is essential that firms have effective complaints root cause analysis systems in place as part of a broader complaints handling process.
Sharing Scenarios - Oversight failures in product development and project management: This month scenario features the failure to create and implement appropriate policies and controls to ensure that new products and new projects achieve the intended business goals.
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 - Commercial practices or conduct breach by third parties: The negative affect aggressive or improper business practice by competitors have on the firm in terms of losses incurred or foregone business opportunities.
Classified: Find all your job advertisements here alongside information on upcoming industry events and The Risk Universe monthly comic.