 | Editor's Letter - Is insurance worth buying?: Risk professionals and their senior management boards are increasingly looking at risk transfer and seeing whether or not they need insurance as part of the programme, says editor Liz Booth. News: Analysis of the major risk-related news stories of the past few weeks, including the Basel Committee’s consultation on the new standardised approach to operational risk capital calculation. If You Ask Me : Risk Transfer – Apply, but Take Care: Walter Dutschke from the Institute of Operational Risk takes a look at the ins and outs of risk transfer and discusses the main challenges faced by operational risk professionals when it comes to insurance. Spotlight - Measuring Likelihood of Events and Impacts: Regular columnist Manoj Kulwal shines a spotlight on the best way to measure the likelihood of risk events and their various impacts, taking into consideration different possible contexts. Regulatory Update: An update on recent regulatory developments, including a new compliance initiative from the FCA, swaps transactions rules from the SEC and the launch of the senior managers regime. Modern Slavery and Exploitation – Is Your Business Risk Ready?: Ian Livsey from the Institute of Risk Management explains why financial services firms should be just as aware of the Modern Slavery Act 2015 as any other business. How To... Define and Implement KRIs: Jeremy Zierler, head of risk for Vanguard’s Institutional Investor Group, provides a practical guide on how to define and implement a set of key risk indicators for the firm. Sharing Scenarios - External Insurance Fraud: The Risk Universe presents a scenario on a current operational risk topic and invites readers to take part. This month we focus on fraudulent acts against insurance cover. An end to the habits of a lifetime?: John Hurrel from Airmic discusses the emerging challenges for those responsible for buying insurance and the implications of the Insurance Act 2015, due to come into force later this year. Risk Classifications - Non-compliance with Insurance Regulation: RiskBusiness’ Mike Finlay focusses on an insurance risk category which has become an increasing issue for many firms. Dear CEO: Every month, an anonymous senior executive of a financial services firm writes a letter to the CEO about concerns they have always wanted to raise. This month, the chief risk officer suggests it’s time to stop overcomplicating risk management |
