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Replies

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  Natalie Ivanov September 1, 2010 17:37

  Hi Peter,
  I found that it is fairly hard to distinquish operational risk from credit risk in retail banking. We did work on operational risk in order find the way to estimate credit risk related losses more accurately. We found it really challenging. However that work did help us to identify certain fraud cases and increase our fraud strategies strength.
  
  
  Peter Saxton said:

  Hi everyone,
  
  My name is Peter Saxton and I work in the Operational Risk arena. Having been made redundant three times in five years it occured to me that many financial companies want/need Operational risk but few can afford to have a permanent resource devoted to it. This made up my mind to try my hand at contracting and so far, touch wood, the decision has paid off. A good Operational Risk Manager, having successfully instigated a risk framework, seems to do themselves out of a job and be in the first round of redundancies.
  
  Is this an experience anyone else has come across ?
• 

  Jan Floyd-Douglass August 17, 2010 16:46

  Hi there
  
  I'm Jan Floyd-Douglass, and after a career in banking and financial services, I am now working with clients on ERM related matters amongst other topics geared to deliver efficiency and/or growth. Through my role as a Commissioner for the Women's National Commission, I meet and mentor many senior female managers/leaders too, and I have noticed that there seem to be a lot of females in the risk management arena. Is this reality or perception? Thoughts?
  
  On another point, I certainly support a recent thread around about the lack of ERM-awareness away from Risk and Audit in businesses generally. (It reminds me of when internal misperceptions were that only salespeople represented the business.) I noticed that the more the various teams are customer facing/handling, the greater their ERM awareness. This was particularly evident when I was running a corporate pensions business for a global insurer a couple of years ago, where we had a very high customer contact (for all the goods reasons!).
  
  Re engagement with the GR community, I'd welcome weekly updates re the top 5 ERM or other risk elements in the news (and who's got the best solutions for them). I'd also be interested in playing golf with a few fellow GR golfers!!
  
  Jan
• 

  Peter Saxton August 13, 2010 22:43

  Hi everyone,
  
  My name is Peter Saxton and I work in the Operational Risk arena. Having been made redundant three times in five years it occured to me that many financial companies want/need Operational risk but few can afford to have a permanent resource devoted to it. This made up my mind to try my hand at contracting and so far, touch wood, the decision has paid off. A good Operational Risk Manager, having successfully instigated a risk framework, seems to do themselves out of a job and be in the first round of redundancies.
  
  Is this an experience anyone else has come across ?
• 

  U.B. Ciminieri August 12, 2010 22:30

  Hi everyone! Thanks for this group. What a great community for all of us to share our ideas, goals and experience.
  
  My name is U.B. Ciminieri and I work for Business Controls, Inc., a leading risk mitigation firm in Colorado. We operate an anonymous incident reporting and case management solution called MySafeWorkplace. And we have a team of experts who perform corporate third-party investigations, due diligence and background check research, security and threat assessments, policy review and trainings in workplace investigations, employment and workplace violence prevention.
  
  Both our Founder and CEO, and President, have extensive experience in the security field, as well as in fraud and workplace violence investigations. We use technology to help companies in any industry mitigate their risk and protect their assets and employees.
  
  My goal here is to learn from all of you and hopefully get the chance to work with you to provide a broad range of risk mitigating solutions. I look forward to participating!
  
  U.B. Ciminieri
• 

  Avinash R. Katrap August 4, 2010 7:33

  Hi.
  
  I am Avinash R. Katrap, Working as Sr. Officer Industrial Relation and Business Sustainability in Diamond Trading firm. My job is to look at compliance at all level e.g. Finance, operations, Health & safety, environment. I am intrumental in formulating the policies of the company. Also help the functional manager in assessing risk in their core area. While surfing the Linkedin, I come across information about this website and found it suitable with my job challenges. I would look forward for great mutual partnership in sharing our views and contents on the given topics, This will help us in understanding the geographical risk management arohnd the world. Looking forward for your reply.
• 

  Adolfo Hernandez July 23, 2010 13:07

  Hi there,
  
  I am currently working for a Spanish consulting and legal firm as a Senior Associate within the Governance, Risk & Compliance division and also in Telefonica within the IT Security Marketing and Business Development division. 5+ years within the corporate fraud, risk, information security and business continuity management.
  
  Holding CISA, CISSP, ITIL certificantions. Also NATO Personal Security Authorization Certificate , Personal Industrial Security Guarantee (Spanish Defence Ministry). With emphasis on leadership, teamwork and commitment.
  
  BR,
  
  
  A.
  http://es.linkedin.com/in/adolfohernandez
• 

  Edward Collins July 22, 2010 5:02

  Hi, Chris. I and a few fellow travellers are working on a flexible web based risk assessment solution based on US standards, working primarily from COSO and related IT standards such as COBIT and based on methods commonly applied to operational and financial risk assessment in the US. Do you have a website where the outline of your approach can be understood? Very interested in comparing notes and will be happy to share the outline of our approach. You're a little ahead of us and I'd also be interested in the steps you've taken to bring your product to market. You can mail me direct at halfmoonsolutions@earthlink.net. Thanks, and hope to hear from you soon. Ed Collins, Half Moon Solutions LLC, Houston, TX.
  
  Chris Jacka said:

  Hi all,
  I have over 20 years risk experience in Australia ranging from Defence to Telecommunications and Finance. I started my own consultancey (SRMA) 10 years ago, specialising in Disaster Recovery and Business Continuity. Since then we have branched out into general operational risk.
  
  Over the past two years we have also developed our own web based Risk Software Platform (ORIM). Fully complaint to the ISO 31000 Process we are now ready to enter the market and are looking for delivery partners around the world. The software has been developed to support my own consultancey (10 staff and 20 clients) and also fit directly into any organisation consulting/legal/accounting or into a company directly regardles of size.
  
  I am keen to be part of this network to help grow my global network of peer risk providers.
  
  Regards from Australia,
  
  Chris J.
• 

  Marcus Cree FRM July 21, 2010 18:28

  I didn't take it as a complaint. I do prefer to be accurate about such things though. Its easy to let normal standards slip on applications like Twitter.
  
  Mark Sands said:

  You didn't have to do that, Marcus, I was only joking!
  Thank you anyway!
• 

  Mark Sands July 21, 2010 18:08

  You didn't have to do that, Marcus, I was only joking!
  Thank you anyway!
• 

  Marcus Cree FRM July 21, 2010 17:45

  Thanks for pointing out. I have corrected now in a new tweet.
  
  Marcus Cree said:

  Hi Mark,
  
  I read (and tweeted the link) to your article in the online version. I would be interested in any links you post to any oprevious papers etc that you have written.
  
  Cheers,
  
  Marcus
  Mark Sands said:

  Hi Everyone,
  My name is Mark, and I'm a reporter for Operational Risk and Regulation magazine. We are a monthly magazine and website, based at http://www.risk.net/operational-risk-and-regulation
  I work in London, and cover all sorts of areas relevant to the discipline of OR. My beat in particular is Europe, both the Union and at national level, and I'm always keen to speak to people from throughout the industry.
  I've been at the magazine a relatively short amount of time, and I'm still learning a great deal about this sector of financial services, having previously been free-lancing in areas around consumer technology.
  
  At the moment, I'm particularly thinking about the role of gender in operational risk and whether there can be issues around "groupthink" when organisations are too homegenous.
  However, I am always interested to know what you, the experts, think are the developing trends in OR, and what is driving that.
  
  If you would like to contact me, I'm sure you can do so through the site, or alternatively via my email, mark.sands@incisivemedia.com
  If you wish to follow the kinds of things we're covering feel free to either check out the website or you can find me on twitter; @MarkTimSands.
  
  All the best,
  
  Mark