Ri$kMinds brought together leaders from all sectors of the risk world to discuss the problems and future facing facing financial services institutions across the globe. Clark Abrahams brought back some notable quotes and his thoughts on the increased regulatory. He seems recharged by the idea that innovation, regulatory compliance and business strategy fit together for the perfect competitive puzzle.
All Regulatory Compliance Stories
State of risk management, data
When you take a look back over 2011, what will be the the stand out memory? Will it be the struggles in Greece and the other Eurozone countries to restructure their debt? How about the new regulatory changes or the new regulatory bodies in the US? David Rogers, SAS, says that many of these old problems caused by one overriding issue – data. What will you be doing about data in 2012?
Tagged board of directors, board-level issue, EIU
Six key challenges to meeting Solvency II standards
The more progress insurers make with Solvency II implementation the more they realize they have to do. Starting early is the key. This post briefly describes six key challenges insurers must address immediately to meet Solvency II standards in time. From there, I’ll point you to a white paper detailing those challenges and a framework that provides a solid foundation for improved capital and cost-efficiency.
Tagged compliance, data management, Solvency II
Solvency II deadline extension
The recent proposal to extend the deadline for Solvency II compliance by one year reflects the finding of a report by the Financial Services Authority that many insurers are not ready to meet the standards. This extension can be veiwed as an opportunity to knuckle down – if you have the correct tips and tools. Here is some advice and a link to a white paper identifying six key challenges that must be addressed to meet Solvency II standards.
Tagged FSA, insurers, Solvency II
Credit risk re’modelling’ for competitive advantage
As firms continue their search for a balance between capital requirements and competitive advantage, Iain Brown, Analytics Specialist at SAS, asks, “Could the financial sector do more with their models if they borrowed innovation from elsewhere?”
Digging out or digging deeper?
You’ve heard it before – siloed data is trouble. Data trouble is getting bigger every day, so those siloes are helping you dig a giant hole for your organization. David Wallace had three-step plan for managing your big data troubles that reduces risk and keeps you in regulatory compliance.
How to get game-changing speed, data integrity
Consider the number of decisions your firm makes everyday. How long does it take to ensure that those are the right decisions? You see, it’s not just about making decisions faster, it’s about the assurance of making the right decisions fast. Oliver Schabenberger, Lead Architect of SAS High Performance Analytics, says, “We’re solving business problems that have performance issues in such a way that we not only make them faster, but also make transformational change, from hours to seconds and from minutes to seconds.”
CFPB interview: Product development and regulatory unrest
At the BAI Retail Delivery conference in Chicago, John Colas, Partner at Oliver Wyman, interviewed David Silberman, the Assistant Director, Deposit and Payment Markets Consumer Financial at the Consumer Financial Protection Bureau, to give the financial services audience insight into roles, ambitions and priorities of the newest regulatory bureau. Read Silberman’s frank answers about the future of the bureau.
Dodd-Frank: Unexpected impact on trading, reporting, governance
The Dodd-Frank Wall Street Reform and Consumer Act will bring the most sweeping changes in compliance rules since the 1930s. At the Premier Business Leadership Series in Orlando on Tuesday, a panel comprised of leaders from some of the affected industries gathered to discuss the implications of the act.
Six guidelines for constructing stress tests
The recent global financial crisis painfully revealed the need for better, more comprehensive stress testing in the financial industry. Keep these guidelines in mind when constructing stress tests and stress scenarios.
Tagged Basel II, Basel III, capital, capital markets, capital requirements, exposure, extreme events, limits, liquidity, macro-economic shocks, negative market conditions, portfolio, potential losses, regulation, regulators, regulatory, risk, risk management, scenario testing, stress environment, stress framework, stress test limits, stress testing






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