 | Editor's Letter - Fixing systemic operational risk: LIBOR, IDSAfix, Gold prices, FX rates, energy prices – is there anything left to fix? News: Investor sues ISDAfix over rate rigging; DTCC database a magnet for hackers; US banks increase operational risk capital following parallel run exit; complaints database changes heighten operational risk. If You Ask Me - Ebola risk - from epidemic to pandemic?: Annie Searle examines the spread of Ebola and lessons for financial sector planning. Spotlight - The view from above: Large banks have been publicly complaining about the compliance burden being placed upon them in recent years but it is well founded. The Risk Universe takes a look at the level of regulatory change impacting firms since the start of 2014 and analyses in detail the most significant rules affecting operational risk management. Getting It Right: Banks are stumped on how to create a living will that is fit for purpose, thankfully regulators have provided more guidance on what they want. In Flight Hacking: Researchers have shown that it is possible to hijack a commercial airliner using its onboard WiFi signals, opening up a whole new world of risk for airlines and aircraft operators. How To... Build a Three Lines of Defence model: There is a lot of discussion as to what constitutes a three lines of defence model, but little understanding of the ramifications of actually implementing a risk agnostic, organisation-wide three lines of defence model. RiskBusiness’ Mike Finlay provides some guidance Sharing Scenarios - Online banking system outages: This month scenario addresses system outages, a perennial issue, made worse in the current age of social media when disgruntled clients can tweet their frustrations to the world, but one that can have a myriad of causes. Risk Classifications - Public disorder: RiskBusiness’ Mike Finlay takes a look at the risk of public disorder, which increasingly occurs in financial centres around the world. 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. |
