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One of the mandates of the 2009 G20 summit was to ensure the electronic trading and central clearing of standardised OTC derivatives. OTC or ‘over-the-counter’ is seen as the antonym to exchange-traded or ‘listed’ in most literature. Now, global regulators seem intent on removing OTC from the trading landscape.
Shifting bilateral OTC activity onto electronic platforms – organised trading facilities (OTFs) in Europe and swap execution facilities (SEFs) in the US – is the way regulators plan to ach
Our partners at marcus evans conducted an interview with Mr. Christian Ferrer,,Director, Head, Global Commodities Trading Market Risk at Bank of America Merrill Lynch and a Speaker at the marcus evans 5th Annual Risk Management in Energy Trading Conference recently and kindly gave us a preferential permission to publish it on our website.
Energy trading continues to experience rapid growth across the globe. Risk management continues to play a big part in corporate strategy and effective risk m
Here are a few tips about risk statements and a link to one of my presentations where I outline how to complete a risk statement.
First and foremost a risk statement is a conversation between the risk owner and any stakeholders that have or should have an interest in the risk. It is also a record of your analysis, a baseline for initial and ongoing risk reporting and a to-do-list for the risk owner to monitor.
If your risk statement fulfils its role as a conversation between the risk owner and st
I am a former Stock Options Market Maker on the CBOE and the Pacific Stock Exchange. I and some others used a strategy of identifying mis-priced calls and puts. We sold the over-priced and bought the under-priced and then hedged to reduce risk.
After noticing that the millions of employees who have been granted equity compensation by their employer/company and their advisers have little understanding of the value that these employees have, the risks of losing that value and how to manage those po
To start the process of Risk Culture Building, an organisation first needs to get an accurate picture of the current level of risk culture maturity in the organisation. Various attempts have been made to do this and generally most revert to some kind of questionnaire or checklist approach linked to a scoring sheet that is eventually tabulated to quantify an overall score which is linked to a perceived level of maturity. In some cases organisations call in consultants who use an interview process
In their new book Beyond Performance: How Great Organizations Build Ultimate Competitive Advantage (2011), McKinsey senior partners Scott Keller and Colin Price make some interesting observations about organisational transformation and the achievement of excellence.
Leaders wanting to „beat the odds‟ must find answers to questions related to:
- Dramatically (and quickly) improving the organisation‟s performance
- Avoiding the pitfalls of transforming an organisation
- Ensuring that performance improvement
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Just one year ago you were probably aware of ISINs, BICs and/or SWIFT codes. But LEI, USI or UPI would probably have elicited a mere shrug. In the regulated world of OTC derivatives, these acronyms are the foundation for stringent and consistent regulatory oversight.
The Dodd-Frank Act mandated the creation of the Office of Financial Research (OFR) with the task to collect data from financial market participants to allow for enhanced visibility and transparency of a highly interconnected global m
This paper explores the current state of website security and how you can help protect critical data and build trust with customers. It begins with Secure Sockets Layer (SSL) encryption, the technology that addresses the most obvious and oldest problem in online business -the susceptibility of sensitive data in-transit to interception by cyber criminals.
===> http://bit.ly/securityTrust
The first shoe to drop was government regulations holding the Board of Directors personally responsible for the effectiveness of enterprise risk management programs at their organizations. Boards are given a choice between proving their risk management programs are effective or disclosing their ineffectiveness in risk management to the public. If they do neither, it is considered fraud, as not knowing about a risk is no longer a defense.
What does enterprise risk management effectiveness mean? No
Risk management can be a paradox in nature and this often leads entire communities, perhaps society at large, to entertain red herring solutions for systemic threats.
Today, I can see at least three man made ills which may be killing us broadly and as a global community in the long term. We should perhaps rethink carefully what we are trying to achieve at times because we may just find our first desperate attempts to resolve the unwanted, could result in dilemmas that are far worse than the shor
Date: Thursday November 8th, 2012
Time: 1:00 pm eastern, 10:00 am pacific
Early in 2012, SAP commissioned an independent study to understand how companies are preventing access risk and fraud. A vast majority of the 183 research respondents confirmed that managing access risks were "very" or "extremely" important to senior leadership in their organizations. Yet the same group found it challenging to establish and maintain a program for
This little blog stems from a question I read in a LinkedIn Group. The question was “Should risks be always stated in a negative manner?”
My view is that it doesn’t really matter as long as everyone involved accepts that risk is not only about the downside. As most modern definitions of risk refer either specifically (ISO 31000) or by inference to risk being about managing the uncertainty around our objectives, it follows that risk management is about achieving and hopefully exceeding our obje
A chemical plant explosion in Japan on Sunday shows the consequences of poor risk management in a really personal way. The Nippon Shokubai Co. produces a chemical that is a critical link in the supply chain for one-fifth of all the world's diapers. A diaper shortage is expected.
One, where was the risk management program to prevent the explosion? As is always with these things, in the next 6 weeks, evidence of an employee warning their management about conditions that could result in an explosion
In order to monitor systemic risks as near to real-time as possible regulators have introduced the requirement for market participants to report all OTC derivatives trading activity to swap data repositories (SDR).The aim is to boost transparency and surveillance capability. The idea is strikingly elegant, yet fraught with complexity when it comes to application by market participants.
The reporting is mandated through Dodd-Frank and EMIR. SDRs need to be registered with the respective authoritie
Don’t miss out on hearing keynote presentations from Google, TiVo, Walmart Labs and many more at the Predictive Analytics Innovation Summit taking place in Chicago, November 15 & 16.
This summit is set to bring together the industry’s most forward-thinking analytics professionals in an event acclaimed for its interactive format.
Take a look at the agenda here: http://analytics.theiegroup.com/pa-chicago/program
Confirmed speakers include:
- Director, Distinguished Architect, Walmart Labs
- Senior
The National Credit Union Administration (NCUA) by mandate has added Enterprise Risk Management (ERM) and Sarbanes-Oxley (SOX) like financial reporting attestation compliance to the list of required activities for credit unions. Why has the NCUA put SOX, or financial reporting attestation, and ERM in the same ruling?
The NCUA has recognized that all regulatory compliance guidelines have required a risk assessment component, so it is only natural to require an Enterprise Risk Management (ERM) prog
