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Issue #5

Issue #5News: HSBC USA investigated for money laundering failings; JP Morgan’s trading loss; FINRA fines four banks for ETF supervisory failings; U regulatory round-up; Wise move by Nasdaq; FSA Bans MSIEu Chairman.
Sitting on the Boundary: Although boundary risks in banking are a problem, it could be argued insurers face an even more difficult challenge of classifying insurance and operational boundary risks, writes Mike Finlay.
Shareholder Spring: Investors are taking a stand over excessive board and executive pay as share values plummet. But how far is this the dawn of a new era of accountability for boards and senior managers? Victoria Tozer-Pennington reports.
Re-classifying Boundary Risks: The financial crisis demonstrated that for too long operational risk events have been wrongly classified as credit risk events. Ellen Davis reports.
How much Operational Risk is there in Credit?: Nasreen al Qaseer and Hansruedi Schütter present findings from original research into the extent operational risk events are wrongly classified as credit risk.
Operational Risk Essentials - Starting from Scratch: Elena Pykhova, chair of the Operational Risk Committee within the Association of Foreign Banks, goes back to basics.
Credit Application Due Diligence Failures: This month's scenario involves failing to undertake appropriate levels of due diligence and checking during the assessment of a credit facility application. Also find the results from last month's scenario benchmarks.
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.
Legal Risk: True Transparency or Not?: One risk manager shares his views on the challenges of accounting for legal risk losses.
Risk Classifications - Internal Credit Approval Fraud: This month's classification column explores a risk category which is often a source of debate as to whether it constitutes credit risk or operational risk.
Classified: Find all your job advertisements here alongside information on upcoming industry events and The Risk Universe monthly comic.