February 2012 Blog Posts (23)

Risk Management Summit - April 4 - 6, 2012, Grand Hyatt, San Francisco, CA

Learn to integrate high business performance and risk management.

Meet the world’s leading risk experts and industry veterans.

Get up to speed on new, cross-industry risk management tools.

In the pursuit of improving business performance, risks multiply and increase in complexity. How can companies avoid these dangers?

ComplianceOnline, the leading GRC advisory network and regulatory training provider, has teamed up with Risk Luminosity Seminars (RLS) to present…


Added by GlobalRiskCommunity on February 29, 2012 at 5:45pm — No Comments

Achieving Efficient Governance, Risk, and Compliance (GRC) Through Process & Automation

This white paper presents a low risk, high impact approach to gaining control of regulatory compliance. The procedures, tasks, and behaviors that bear upon compliance can be overwhelming. Yet organizations that can master these activities, operate more efficiently, compete more effectively, and build their brands. Learn how Governance, Risk, and Compliance technologies can help.

 ====> http://bit.ly/GRCAutomation

Added by GlobalRiskCommunity on February 29, 2012 at 1:39pm — No Comments

Manigent Start 2012 with Two Major Project Wins

Manigent is pleased to announce a successful start to 2012, with two major project wins. One of the projects will be with an Investment Bank assisting them to meet the regulatory obligations from a number of regulators globally, including the FSA here in the UK. The second project is with a legal services regulator with the intention to build additional risk management at a transitional time for the industry, with the introduction of Outcomes-focused Regulation (OFR) and Alternative Business…


Added by Rebecca Beard on February 28, 2012 at 5:24pm — No Comments

Risk Management and Spreadsheets

Many organisations are now using spreadsheets to monitor and manage their risks but research suggests that this could be inefficient and impractical for risk managers.

Software, such as StratexPoint, allows risks, that an organisation face, to be clarified, aligned and effectively managed. StratexSystems believe that every business should be able to execute their business strategy whilst operating within an acceptable level of risk exposure. With a series of easy-to-deploy visual…


Added by Rebecca Beard on February 28, 2012 at 5:22pm — No Comments

StratexSystems Consultancy Partner’s Productivity Improved by 20-30% with StratexPoint

StratexSystems are pleased to announce the success of one of their key consultancy partners who have seen a 20-30% jump in project productivity through the use of StratexPoint as a project delivery tool. By delivering more for less, over a shorter time frame, the consultancy partner’s clients have seen considerable benefit, as have StratexSystem's consultancy partner, with extended project benefits.

The software solution, StratexPoint, is an…


Added by Rebecca Beard on February 28, 2012 at 5:21pm — No Comments

Competition Law in Bulgaria

Bulgarian Competition  Law is designed to protect and foster competition and free enterprise in economic activity.  Over the years the law was repeatedly changed by the legislature to meet the requirements of economic life.

Bulgarian Competition law provides protection against agreements, decisions and concerted practices, abuse of monopolistic and dominant and all other acts and actions that can lead to the prevention, restriction or distortion of competition in the country and / or…


Added by ganka belcheva on February 24, 2012 at 9:50am — No Comments

Aussie Banks under the BCP microscope

Australian banks are in for a shakeup. The Reserve Bank of Australia has decided to launch a probe into why Aussie banks keep suffering extreme service outages and APRA, the national regulator has recently finalized its Business Continuity Management guide which must be in place by the 1st of July 2012.…


Added by Martin Davies on February 22, 2012 at 5:55am — No Comments

Group Rate for the 5th Annual ERM Conference Ending on 02/27/2012

We have confirmed the conference to take place at The Sutton Place Hotel in Chicago, IL from March 19-21, 2012: http://www.chicago.suttonplace.com/default.htm

Spaces are limited for both the event and hotel, so please make sure…


Added by Michele Westergaard on February 20, 2012 at 9:26pm — No Comments


MYTH: Insurance and Benefits related Trade Shows drive sales for their exhibitors commensurate with their expectations and overhead costs.

FACT: The thousands and thousands of dollars that it costs to exhibit at a traditional 3-day trade show, costs including travel, lodging, shipping expenses, dining and entertainment, even lost day-to-day professional duties, are rarely justified with a strong financial…


Added by Philip Eide on February 20, 2012 at 3:24pm — No Comments

Developing a robust operational risk appetite statement

I recently wrote a piece for a new risk e-magazine, The Risk Universe on the topic of risk appetite statements. I would be really keen to hear the communities comments/feedback.

The paper is available at…


Added by Andrew J Smart on February 18, 2012 at 10:50am — No Comments

5 Reasons Why You Need ERM Software

How do you manage the uncertainty of what has not happened yet?

ERM Heat Map That’s where enterprise risk management software (ERM Software) also known as operational risk management software comes in. It tracks the emerging risks and changes to existing risks across the enterprise and connects these changes to the activities and business metrics that run the business. A change in risk at the business process…


Added by Steven Minsky on February 17, 2012 at 10:30am — No Comments

Funding Liquidity Risk

Basel III includes a new standard for Liquidity Risk which seems to be tripping up a few risk analysts attempting to reach this complex requirement.

In this post, we briefly look at the possible outcomes from a poorly managed liquidity risk program and the types of initiatives banks need to consider to meet the Basel III…


Added by Martin Davies on February 17, 2012 at 6:30am — No Comments

EQECAT on earthquake losses in the Philippines; J.P. Morgan/Deloitte on Australia; Willis reports on Mining; Three US states require climate change survey; A.M. Best on the U.S. economy; Towers Watso…

EQECAT on earthquake losses in the Philippines; J.P. Morgan/Deloitte on Australia; Willis reports on Mining; Three US states require climate change survey; A.M. Best on the U.S. economy; Towers Watson on Predictive Modeling; Barry Zalma discusses “Murder for Life Insurance.”World Risk and Insurance News - 14 Feb


Added by J. P. Greene on February 15, 2012 at 2:11am — No Comments

Estimating Operational Risk Capital: the Challenges of Truncation, the Hazards of MLE, and the Promise of Robust Statistics

J.D. Opdyke and Alexander Cavallo


In operational risk measurement, the estimation of severity distribution parameters is the main driver of capital estimates, yet this remains a non-trivial challenge for many reasons. Maximum likelihood estimation (MLE) does not adequately meet this challenge because of its well-documented non-robustness to modest violations of idealized textbook model assumptions, specifically that the data are independent and identically distributed…


Added by Alexander Cavallo on February 13, 2012 at 10:04pm — No Comments

Mathematical equation crashing banks

An article in the Guardian today makes great claims that the Black-Scholes mathematical justification for trading options plunged the worlds banks into catastrophe. Ummm, I fair this is a little bit of a fanatical overstatement but let's ponder on this for a moment.…


Added by Martin Davies on February 13, 2012 at 6:30am — No Comments

Crowded markets a new future

The equities market a decade ago cannot be compared to what it is today.

Over the last ten years, globalization really has become that, connectivity has reached the masses, the rise of Exchange Traded Funds, High Frequency Trading, the increase in the number of large positional hedge funds and the interest for sovereign powers…


Added by Martin Davies on February 11, 2012 at 5:14pm — No Comments

COSO & ISO 31000 Exposure Valuation

Is ISO 31000 going to make the risk quantification mistakes that COSO did?

I have been following various debates on quantifying operational risk exposure on linked-in and elsewhere on the internet in the backdrop of risk standards such as COSO and ISO 31000.…


Added by Martin Davies on February 10, 2012 at 9:46am — No Comments

Latest video news from World Risk and Insurance News

Greek debt; a report from Swiss Re on earthquake losses and the under-insured; concerns from the Association of British Insurers over flood insurance in the UK, and warnings from Fitch Ratings regarding the impact of Solvency II on captives in the EU.

Added by J. P. Greene on February 8, 2012 at 3:38pm — No Comments

Davos 2012 – should everyone bank on innovation?

Cost cutting and better risk management remained high on the European financial services agenda at the recent World Economic Forum. Institutions worldwide are facing similar concerns, because of the ongoing instability in the current economic environment. Yet cost cutting initiatives and the move to further enhance risk management are often undertaken to the detriment of what customers today are looking for – innovation.


Regulation is intended to create transparency, but if…


Added by Rob Heyvaert on February 7, 2012 at 5:53pm — 7 Comments

New Article: The importance of understanding 'Key Business Drivers'

In my first newsletter of 2012 I have gone ‘back to basics’ and focussed on identifying and understanding Key Business Drivers. 

Too often in management presentations, investor briefings and risk assessments - both enterprise and credit risk assessments - there is excessive focus on relatively unimportant aspects of a business or organization.  This can be to the detriment of a full and through analysis of the true underlying drivers of revenues, cashflow and earnings.  



Added by Peter Deans on February 7, 2012 at 11:01am — 1 Comment

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