Financial Risk Management

This network brings together professionals involved in the oversight and management of their company's financial risks and exposures as well as solution vendors, in order to discuss risk issues including interest rate risk, foreign exchange risk and commodity price risk, among others.

Retired Member 

GDPR - Heralding a New Kind of Customer Intimacy?

In August 2017, India’s highest judicial office, The Supreme Court, upheld the right to privacy as a fundamental right of the country’s citizens. In an era, where data is easily disseminated through a wide array of physical and digital channels, we often end up losing control of the very resource that we created and one that defines us in myriad w...

09 March 2018 /regulation

Konrad Litwin Global General Manager - Testing at Perforce Software

How and why software development must be included in FS compliance, risk and security processes

Digitalisation is at the heart of most financial services and processes, whether internal or external. The good news is that it can be a catalyst for innovation and gaining a competitive edge. The downside is that the high dependency on these ‘soft assets’ brings its own challenges and vulnerabilities. While they are already considered within ri...

22 February 2018 /security

Vishwanath Thanalapatti Analytics at Temenos

Gem of a Fraud: A classic example of operational risk

Indian banking system is reeling under a series of reported frauds in the last few weeks. The mother of all is the USD 1.7 billion at PNB (Punjab National Bank) which is amongst the top public sector banks. Modus Operandi: An Indian bank (A) issues an LOU (Letter of undertaking) at the request of a corporate to a bank in a different country (B), gu...

21 February 2018 /regulation

Naresh Kurup Director - Marketing at CustomerXPs

A Call for Better Push-Payment Scam Prevention In Light of Liability Shifting from Customers to Bank

APP (Authorized Push Payment) fraud is turning out to be a widespread menace with the UK being the most affected, according to the UK consumer rights champion When a business or an individual gets tricked into sending money to a fraudulent account to pay for goods or services it is a fraud. Businesses and individuals are scammed when criminals s

19 February 2018 /payments /regulation

Naresh Kurup Director - Marketing at CustomerXPs

Are Real-time Payments Actually Fueling Financial Crime?

Real-time and near real-time payment systems have changed the very fabric of online commerce. Over 30 countries now have real-time payment processes of some kind, some of them in use since decades. The growth in Real-time Retail Payment Systems (RT-RPS) has been encouraging, with 18 countries now having a ‘live’ RT-RPS systems in place. Additionall...

19 February 2018 /payments /regulation

Naresh Kurup Director - Marketing at CustomerXPs

Nixing Credit and Loan Frauds Smartly

With the U.S. economy grappling with massive internal debt, ideas that can reduce even a fraction of this would be of great advantage. Financial institutions as well as startups have already begun looking for ways to innovate, and make banking systems more efficient which allows financial institutions to the lending problem effectively. Interestin...

19 February 2018 /ai /regulation

Retired Member 

Tips On Detecting Employee Fraud

Financial thefts such as embezzlement & others are supposedly the most usual forms of staff fraud. No matter how credible your workforce is, your organization is never out of the chances of embezzlement or employee fraud. As per the report from Association of Certified Fraud Examiners- A typical company loses 5 percent of yearly revenue for f...

06 February 2018 /security

Breana Patel CEO | Thought leader in Bank Risk & Regulations at Bonova Advisory | Risk &Regulatory Advisory

Transparency in processes at Holistic level and Data Governance can help FIs meet MIFID II requireme

Data Governance Policies Need To Be Updated MiFID II is a new exhaustive financial regulation being implemented in Europe as of January 3rd. However, the sweeping legislation won’t only impact European banks. Even U.S. financial institutions are grappling with the changes as they race to implement the necessary changes globally. Also, current U.S. ...

05 February 2018 /regulation

Steve Wilcockson Product Marketing at Quantexa

7 Chief Risk Officer Priorities for 2018

Last January I posted 7 Chief Risk Officer Priorities for 2017, based in part on the preceding December’s RiskMinds Conference in Amsterdam, a conference highlighting the worries and interests of Chief Risk Officers and their risk managers. A lot can happen in a year, so I have repeated the exercise. Some topics have carried over such as model go...

17 January 2018 /ai /regulation

Retired Member 

Humans and robots: the future of customer-centric banking

A recent report by the Future of Work Commission, chaired by deputy Labour party leader Tom Watson, made me reflect on how banks in the UK have dealt with the technological revolution of the last few years, and how they might fare in 2018, when the pace of change will undoubtedly quicken. Indeed, a mainstream newspaper covering the report ran th...

03 January 2018 /regulation /retail