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Building a loss reporting database for operational risk. What you need & links to some outstanding risk systems.
In our last blog posting on Monte Carlo and Loss Data we described the importance of the Loss Data exercise. A few people have personally emailed me asking for more information on this aspect of risk management, so I have decided to write a blog post on it.
A presentation on ISO 31000 for banks.
A presentation that looks at ISO 31000 in the banking domain. Why ISO 31000 is compatible with Basel, why ISO 31000 can value-add a Basel risk framework.
The presentation attached to this [ link ] will be delivered at the ISO 31000 conference in Paris on 21st and 22nd of May 2012.
Here’s a common Project Manager story:
You, the Project Manager is creating the budget for your project. Your high level WBS (Work Breakdown Structure) is ready and you have the high level estimates needed for a budget baseline.
As a smart Project Manager, you will add a contingency (20-25%, which is common practice nowadays) to account for unknown events that may add to your cost. In that way, you save your project from going over budget. So far so good.
It seems like you have done your due dili
How does an executive watch the pulse of their company and sustain fiscal health?
In this paper, financial executives from a variety of top performing industries discuss systems that they have implemented that help them efficiently manage the daily pulse to sustain healthy cash flow.
==> http://bit.ly/ManageCAshFlow
This online eBook provides insight and advice on how to build an effective disaster recovery strategy in the evolving world of virtual infrastructures, while mitigating the impact of so-called 'Black Swan' events in the datacenter.
Learn more: ==> http://bit.ly/DisasterRecoveryeBook
Rescorla, Boisjoly and LeMessurier - These names may not be familiar to you, however they all have a prominent position in James Chiles book "Inviting Disaster".
Rescorla was the head of security at Morgan Stanley in the South Tower of the World Trade Centre at the time of the 9/11 terrorist attack. After the bombing of the underground car park of the World Trade Centre in 1993, he warned the firm of a possible terrorist attack from the air and that the firm should consider moving to another buil
By looking at a case study in Monte Carlo and Loss Data, we are able to see how important it is to model loss experience and to categorise operational risk loss events.
Recently I had a discussion on modelling risk with a fantastic and successful business person who said to me : "I have read about Monte Carlo, you even make mention to it on your blog but it doesn't make great sense to me. The maths in Monte Carlo is even worse because it seems to confuse the concept by taking it into an academic
Receive a complimentary free copy of the widely regarded book " A Handbook on Asset Liability Management "
- Edited by Professor G. Mitra
Key speakers include:
INSURANCE - Teemu Pennanen, King’s College London, ex-Managing Director at QSA Quantitative Solvency Analysts Ltd. He has extensive experience of consulting and providing solution to the insurance industry.
PENSION - Michael Dempster (Cambridge Systems Associate), consultant to a number of global financial institutions and governments.
BANKI
Managing a profitable balance sheet is more challenging than ever. With Basel III and the more immediate Dodd-Frank regulation on the horizon, a tool such as FTP is vital to ensure an effective centrally managed liquidity strategy. Post-crisis, whilst the economic situation is improving, allocating sufficient liquidity costs quickly and efficiently to the correct business-line is paramount.
Karin Bergeron is a trader on the CVA desk at Scotiabank. She is responsible for pricing and hedging CVA as
This guide provides practical information to help you prepare your data center for the cloud with Unified Networking, scaled-out storage, trusted server pools, and intelligent power management.
To learn more:==> http://bit.ly/CloudPlanningGuide
Virtualization is becoming the new norm for enterprise data centers. It's also a key technology that can help you get to the cloud-and these days, the cloud is top of mind for most IT managers. If cloud is at the top of your agenda, you're probably lookin
Download this full Benchmark Report 2012 analysis and learn best practices on how your business can ensure money is not leaking away undetected.
The report is based on analysis of 10.25 million individual expense claims from more than 200,000 UK based employees over the past three years. The analysis reveals areas where businesses continue losing money and how best practices can be implemented. According to the report for every £100 a UK business paid out in expenses last year, nearly £10 was s
This whitepaper shows how you can finally meet your recovery objectives, provide seamless failover between multiple sites, improve remote application performance, and lower your ongoing bandwidth costs.
Read more: ===⇒ http://bit.ly/OffsiteStorageBC
Project change management involves new IT systems, new products, and new markets, or reacting to a change in the business environment, such as regulatory or competitive actions. Project risk management is about identifying new risks or changes in the threat level of existing business processes. The challenge for project managers is how to get teams, functional areas, business processes, systems, and vendors aligned to new goals; moreover, how to get the needed transparency into the activities th
Your current business applications are costing you time, money and resources, not to mention the negative impact to your productivity. You've heard about tens of thousands of companies like yours flocking to cloud computing and gaining flexibility, productivity, efficiency, accessibility and cost-savings. But how do you avoid costly mistakes? In the white paper "Evaluating and Contracting for Cloud Financials", you'll find practical advice and tips to ensure the choice you make is right for your
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.
Learn more: ===⇒ http://bit.ly/EffectiveGrc
The Chancellor George Osborne has warned the European Union that Britain will refuse to sign up to "idiotic" proposals under Basel III.
George Osborne has warned the European Union that Britain will refuse to sign up to "idiotic" proposals that would water down tough international rules on bank capital.
This is a very concerning development and quite astounding actually. Let's ponder on the drop out of the UK from Basel III, just as a idea for a moment: [click here to continue reading]
Mid-April I was lucky to get to the Global Derivatives Trading and Risk Management conference. It is the world's biggest annual event devoted to financial derivatives. In the past few years, the conference was held in Paris; for a change, this year it took place in Barcelona.
The conference was packed with talks, round tables and networking breaks. To help the delegates make the most of it, each day of the conference was split in four streams running in parallel. Each stream was covering a specif
Managing a profitable balance sheet is more challenging than ever. With Basel III and the more immediate Dodd-Frank regulation on the horizon, a tool such as FTP is vital to ensure an effective centrally managed liquidity strategy. Post-crisis, whilst the economic situation is improving, allocating sufficient liquidity costs quickly and efficiently to the correct business-line is paramount.
Kent Westerbeck formed the Westerbeck Risk Management consulting company in 2007 after retiring from LaSall
Although most organizations are taking stronger measures to protect their data, significant gaps still exist at the very core - their databases. Many don't have a comprehensive database security strategy to defend against sophisticated attacks, track sensitive data, or even meet emerging regulatory requirements.
In addition, organizations tend to focus on detective controls rather than preventive measures when it comes to database security.
By contrast, Forrester finds that by implementing a c
