Roy McPherson
Roy McPherson - London 07 January 2009 - 11:01 Is it only me or do the statistics of this survey shock you too? This article states that 85% of respondents say they have reviewed, or are in the process of reviewing, their risk procedures. Yet only 42% of respondents have a plan to make fundamental changes to their risk processes. Does this mean th...
07 January 2009 /regulation
Iosif Itkin CEO at Exactpro
To be honest, I remain skeptical about the necessity to invest heavily into Risk Management technology. It seems to me that the issue is not in software or hardware but in general assumptions and practices. Let’s take pricing and valuation - server farms with thousands of servers running Monte-Carlo and stress tests for structured products did not...
06 January 2009 /regulation MiFID
Ainsley Ward Vice President, Payments Solutions at CGI
Strange things happen once the mince pies start to settle, just after you've finished seething at the Queen's speech and set the kids up with the latest Disney. This year a cousin and I began to debate what we'd change following last year's global bust - and in doing so we defined our vision of Post-apocalyptic new capitalism – which I'd like to s...
05 January 2009 /regulation Whatever...
Stanley Epstein Associate at Citadel Advantage Group
As a committed operational risk professional, I cannot help but stare in amazement amidst all the financial ruin and desolation that surrounds us. There has been a lot of hand-wringing and pronouncements about credit risk, liquidity problems, lack of trust and the like. However to my mind these are all smoke. And this smoke conceals the fundamenta...
29 December 2008 /regulation Innovation in Financial Services
Comparing Ernst & Young figures against PRMIA Global Risk Survey results (http://www.prmia.org/globaleventseries/news/20080618.html) Ernst & Young Enterprise-wide risk-reporting process is in place 9% - nearly completed 67% - midway 24% - early stages PRMIA Benchmarks the Role of Enterprise Risk Management in Current and Future Business Pro...
19 December 2008 /regulation
Paul Penrose Head of Research at Finextra
Henry Blodget, the former star techstock analyst who knows a thing or two about investment fraud, posts an interesting insight to the Madoff affair on his Clusterstock blog. "Specifically, we're hearing that the smart money KNEW Bernie had to be cheating, because the returns he was generating were impossibly good. Many Wall Streeters suspect...
Retired Member
The status of gold changed yesterday December 16th when the Fed slashed rates to zero or near zero. Gold lost the remaining of its commodity status for a full investment status. Can gold evolve back to its monetary status as well? With no interest paid on dollar, why would anyone want to hold any? Risks are high, curves remain steeply positive. The...
18 December 2008 /regulation
Some choice quotes from squeaky-clean Bernie Madoff on the trials of doing business in the modern financial system. "Whenever I go down to Washington and meet with the SEC and complain to them that the industry is either over-regulated or that the burdens are too great they all start to roll their eyes just like our children do when we talk ab...
18 December 2008 /regulation /wholesale Video extravaganza
I've never received a letter quite like the one I received, over the weekend, from one of my credit card providers. It started with the sentence "Please sign and return the attached application form today to be entitled to a copy of your personal Credit Report." No point in beating about the bush, I guess. None of the flowery rhubarb y...
16 December 2008 /regulation /retail Transaction Banking
Richard Barr Principal Associate at Citadel Advantage Ltd.
I just had a friend phone me to tell me that after almost 12 years at the same firm, he's being laid off. I had another friend phone me yesterday to tell me how horrible his job is now. A couple weeks ago, the British newspapers screamed about 20,000 financial industry jobs evaporating overnight. But does this mean that all is gloom & doom? We...
15 December 2008 /payments /regulation
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