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Early warning signs: Data protection barriers ahead
09 Jul

Early warning signs: Data protection barriers ahead

Is data protection soon to become the biggest compliance hurdle facing the back office? In an effort to improve the protection offered to consumers, and to harmonise data practices, the EU is currently in the process of passing two pieces of legislation: the Cybercrime Directive and the General Data Protection Regulation (GDPR). Few people have Read More

10 May

The big bang: What happens when risk and data collide?

The face-off between risk and data is coming.  Lack of co-ordination, both between the regulators setting the rules and within the firms implementing them, is on course to result in a messy collision when the two sets of requirements meet. Commonly, the extent of the damage done by the financial crisis has been blamed on Read More

29 Apr

Newsflash: IT to keep banks from meeting Basel deadlines?

In recent months, the number of high-profile figures championing the BCBS’ Risk Data Aggregation Principles has increased dramatically. Add to those the voice of Forbes’ Tom Groenfeldt, author of a popular column for the magazine on the crossover between technology and finance.  In his most recent article, Groenfeldt identifies some key implementation issues for banks Read More

05 Apr

Into the limelight! Risk data aggregation makes headlines

Until now, awareness of BCBS Principles for Effective Risk Data Aggregation and Risk Reporting has largely been confined to a privileged few.  Thomson Reuters has now achieved first mover advantage in the race to the board room with this conversation with an expose of how regulators and firms are moving at different speeds on this Read More

03 Apr

BCBS gives auditors duty to report non-compliance

On 21st March, the Basel Committee on Banking Supervision released a consultation on its upcoming guidance for the external audit of banks. Auditors have been tarred, along with institutions like credit rating agencies, with having a hand in the poor practices that led to the 2008 financial crisis. The BCBS’ guidance is aimed at distancing Read More

25 Feb

Risk data aggregation: the great unknowns revealed

What will firms need to solve internally, and what will need industry collaboration? In 2009, the G20 committed, in their action plan, to strengthening risk management controls and policy principles. This was followed up with a 2010 report by the Senior Supervisors Group (SSG), highlighting poor IT infrastructure practices which were having a negative impact Read More

13 Feb

Risk management failings: beyond the “Whale”

Multiple risk management failings, resulting in high profile fines and exposing the ineptitude of boards in understanding the complex risks, coupled with poor internal controls and assessment findings, have painted a grim picture of risk management in 2013. The Financial Stability Board’s (FSB) recent Thematic Review of Risk Governance further corroborates this picture.  The report Read More

29 Jan

EU bank IT spending: growing by … 0.4% in 2013?!

Over the past five years, the G20 has rolled out one of the largest technology and operations projects the financial system has ever seen. National regulators have issued multiple, often conflicting, regulations with differing technical standards, leaving firms sweating to upgrade their legacy systems to keep pace with change demands. Today, a report produced by Read More