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Latest Finance News related to Risk Management

Frankfurt prepares for Brexit bankers: 'Maybe our city will change them' image
Source : Guardian [Read Article] Friday 27th of January 2017 07:15:19 AM
....A recent research paper by Prof Dirk Schiereck of the Technical University in Darmstadt concluded that the merger between the London Stock Exchange and Deutsche Börse (which commissioned the paper) increases the probability of Frankfurt securing a large chunk of post-Brexit spoils. The report predicts the German city will become “the clear European centre for financial market regulation and … the European centre for supranational risk management”. ...
MPs hear call for five-year transitional Brexit deal image
Source : BBC [Read Article] Tuesday 10th of January 2017 01:35:55 PM
...." . "But the very large array of ancillary functions, whether it's syndication, trading, treasury management, middle office, back office, risk management, software, which range into far more than just a few thousand or tens of thousands of jobs. ...
Final salary pension deficit of biggest listed firms in UK 'hits £137bn' image
Source : Guardian [Read Article] Wednesday 4th of January 2017 05:32:53 PM
....Alan Baker, Mercer’s UK defined benefit risk leader, said: “After a very challenging year, pension deficits increased again and end the year more than three times higher than the end of 2015. This continues to put real pressure on any risk management plans, and will require trustees and corporate sponsors to work closely together. ...
James Packer retreats from China with sell-off of Crown's overseas casinos image
Source : Guardian [Read Article] Thursday 15th of December 2016 05:58:11 AM
.... The other half will be returned to shareholders via share buybacks and a special dividend. “This is all about risk management,” said Theo Maas, at Sydney-based Arnhem Investment Management. ...
Mark Carney: firms must come clean on exposure to climate change risks image
Source : Guardian [Read Article] Wednesday 14th of December 2016 05:30:17 AM
....Bloomberg’s taskforce will on Wednesday publish its recommendations for a voluntary disclosure code. It will cover four areas considered by Carney and Bloomberg to be vital to how businesses operate – governance, strategy, risk management and metrics. ...
Fossil fuel divestment funds double to $5tn in a year image
Source : Guardian [Read Article] Monday 12th of December 2016 04:00:31 PM
....Mark Campanale, executive director of the Carbon Tracker Initiative, a thinktank that analyses the financial risks of fossil fuel investments, said: “The financial markets are fast losing faith in the investment case for fossil fuels. A technological revolution is underway in the energy and transportation sectors [and] financial market regulators stand ready to move from rhetoric to tough action on climate risk management. ...
Samarco dam failure in Brazil 'caused by design flaws' image
Source : BBC [Read Article] Tuesday 30th of August 2016 08:59:42 AM
...."In November 2015, BHP Billiton committed to making the findings of this investigation public, and we are determined to learn from this tragedy," Mr Dalla Valle said. BHP Billiton said it had reviewed 10 of its biggest tailings dams and found they were stable, but was taking steps to improve risk management. ...
Shares in challenger bank Shawbrook plunge on loan irregularities image
Source : Guardian [Read Article] Tuesday 28th of June 2016 08:47:44 AM
....In October, the bank hired Steve Pateman from Santander as its chief executive. Pateman said: “While this is extremely disappointing, the irregularities were identified by the upgraded risk management systems and controls we implemented earlier this year. ...
Over-confidence is a still a risk in the City, says new FCA chief image
Source : Guardian [Read Article] Monday 9th of May 2016 10:56:00 AM
....“Culture has a major influence on the outcomes that matter to us as regulators. My assessment of recent history is that there has not been a case of a major prudential or conduct failing in a firm which did not have among its root causes a failure of culture as manifested in governance, remuneration, risk management or tone from the top,” Bailey said. ...
I'm the real-life Gordon Gekko and I support Bernie Sanders | Asher Edelman image
.... In four banks alone, they exceed the GDP of the entire world. This is the interesting consequence when unchecked risk management rests in bankers’ hands. ...
Quantum computing: Game changer or security threat? image
Source : BBC [Read Article] Monday 4th of April 2016 11:02:17 PM
....But this isn't stopping financial institutions getting excited. Blu Putnam, chief economist for the CME group - a US-based derivatives market - says quantum computing has led to a "mind-set change" where financial services "now seek out the nearly impossible to solve problems" in asset and risk management. ...
Can a business ever source responsibly from a war zone? image
Source : Guardian [Read Article] Tuesday 22nd of March 2016 10:41:51 AM
....”. With research showing that the number of violent conflicts has steadily increased since the 1950s, Philip Stack, a senior analyst at Verisk Maplecroft, a supply chain and risk management firm, says that companies trying to manage supply chains in conflict or post-conflict environments must have robust systems in place to ensure they are not contributing to insecurity. ...
Can you put a price on nature? A Californian nonprofit thinks it can image
Source : Guardian [Read Article] Sunday 13th of March 2016 11:00:00 PM
....Dow is giving the new tool a try. The company, which relies heavily on water for running its chemical plants, isn’t new to natural capital accounting, according to the its director of sustainability and enterprise risk management, Mark Weick. ...
Why firming up cyber defences is good business image
Source : Daily Express [Read Article] Monday 7th of March 2016 04:00:00 PM
....* If an attack would send your business into lockdown, look into cyber insurance and speak to your broker. As well as cyber cover, Aviva offers risk management expert services to help firms prepare for and recover from data loss or breaches. ...
Regulator fines WH Ireland £1.2m for serious failings image
Source : Telegraph [Read Article] Tuesday 23rd of February 2016 07:59:21 AM
.... . The Financial Conduct Authority (FCA) said WH Ireland had breached rules on risk management and oversight between January and June 2013 because it did not have effective controls in place to prevent market abuse at the company. ...
VW accounts delay 'may signal bigger costs from emissions scandal' image
Source : Telegraph [Read Article] Tuesday 16th of February 2016 07:21:30 PM
.... . However, the rating agency still has concerns about VW, saying the earlier downgrade “reflected the deficiencies we saw in VW's management and governance and risk management framework…Concrete measures to strengthen internal controls, for example, would be supportive of the rating. ...
Huge rise in hack attacks as cyber-criminals target small businesses image
Source : Guardian [Read Article] Monday 8th of February 2016 07:20:10 AM
....“Many small businesses are starting to appreciate the potential severity of cyber-attacks. But many still have a long way to go in implementing good risk management,” he says. ...
Tell the truth, ExxonMobil: a low-carbon future is affordable – and necessary image
....Natasha Lamb is director of equity research and shareholder engagement and a portfolio manager at Arjuna Capital. Dr Bob Litterman is a former head of risk management at Goldman Sachs. ...
Iran's banks could be allowed to restart trading in UK after sanctions lifted image
.... . The Iranian banks are now working with regulators to get up to speed with new regulation such as capital requirements, risk management and governance, before restarting operations. ...
Barclays shuts offices in Asia and focuses on the UK image
Source : Daily Express [Read Article] Thursday 21st of January 2016 01:19:00 PM
.... We are proud to be a bulgebracket investment bank. “Our business combines scale and strong relationships in the world’s two most significant pools of capital – the UK and the US – with a powerful distribution network globally and world-class expertise and execution in risk management. ...
The four big questions banks must ask themselves in 2016 image
Source : Telegraph [Read Article] Tuesday 19th of January 2016 03:44:18 PM
.... The European Commission’s financial reform programme has reduced the likelihood of bank failure. CRD IV, which implements the Basel III proposals in Europe, has provided a comprehensive set of reforms to improve banking regulation, supervision and risk management. ...
Former Co-op Bank bosses banned from City for life image
Source : Telegraph [Read Article] Friday 15th of January 2016 12:18:40 PM
.... . The announcement follows the PRA's public censure of the bank in August 2015 for failng to have adequate risk management systems in place ahead of its near-collapse. ...
Why the UK is failing on infrastructure, the cornerstone of Tory policy image
Source : Guardian [Read Article] Wednesday 6th of January 2016 08:21:34 AM
....Changing the way public services are run is a fundamental tenet of the government’s cuts. But without the skills or data to manage big change programmes, those aims still seem a long way off; the NAO notes that Whitehall still lacks “digital, legal, analytical, risk management and behaviour change skills”. ...
How to help your company prepare for climate change in 2016 image
Source : Guardian [Read Article] Friday 1st of January 2016 12:00:10 PM
....The financial services sector is refining its investment criteria and strategies to address climate change, and companies should take note of how these evaluations can impact their stock performance. It’s hardly coincidental that Goldman Sachs and Citi both recently updated their respective environmental and social risk management policies to prominently incorporate climate and other environmental, social and corporate governance (ESG) factors into their investment strategies. ...
Responsibility comes with the job of investing other people’s money image
Source : Telegraph [Read Article] Saturday 19th of December 2015 05:00:50 PM
.... As shareholders in companies, fund managers have an important role in holding management and boards to account. This is not simply about voting at Annual General Meetings, but having grown-up discussions on strategy, pay, risk management and governance. ...
City news: Aggreko, Glaxo, WH Ireland and Sports Direct image
Source : Daily Express [Read Article] Friday 18th of December 2015 06:43:00 PM
....This refers to a review into control procedures at the firm, relating to activities during a six-month period starting in January 2013. The regulator has been looking into whether it had adequate risk management systems. ...
WH Ireland braced for 'substantial fine' from the financial watchdog image
Source : Telegraph [Read Article] Friday 18th of December 2015 10:43:50 AM
.... . The company has been under investigation since April 2014 for a possible breach of the rules on risk management and oversight of the business. ...
What should human rights mean for an international business? image
Source : Guardian [Read Article] Thursday 10th of December 2015 11:59:30 AM
....Protecting human rights starts from the same place as our values of safety, care and respect – it means putting people first. This is not only the right thing to do, it is also the foundation of risk management and business continuity. ...
Alistair Darling, former British chancellor, joins Morgan Stanley board image
Source : Guardian [Read Article] Wednesday 9th of December 2015 04:27:52 AM
....”. James W Owens, chairman of the board’s nominating and governance committee, said: “We will all benefit from his financial, risk management and regulatory insights. ...
Bargain hunters borrow an extra £1.5billion image
Source : Daily Express [Read Article] Saturday 5th of December 2015 05:37:00 PM
....SMALL businesses are leaving themselves exposed to cyber attacks, with just 4 per cent having insurance to cover damage caused by electronic criminals, new research shows. According to Aon Risk Solutions, the risk management arm of the insurance giant, the percentage of small to medium sized enterprises (SME) taking out cyber crime cover has barely gone up despite a surge of recent high-profile attacks against the likes of JD Wetherspoon, TalkTalk and others. ...
Dear politicos: quit oversimplifying money matters image
Source : Guardian [Read Article] Sunday 29th of November 2015 01:00:06 PM
....But the existence of fraud within a system doesn’t automatically mean that the system itself is fraudulent. And arguing that Wall Street is simply a fraudulent scheme allows us to avoid discussing the real issue: that sheer ineptitude and shoddy risk management, coupled – to a toxic extent – with the greed that always has run rampant in the world of finance not only was the key factor in determining the crisis but still exists today. ...
Banks face 'Uber moment' that could decimate staff and branches, says former Barclays boss image
.... . In his speech, entitled "Approaching the Uber moment in financial services", he said technology was "an unstoppable force" that would improve customer service, risk management and efficiency and see new banks become household names. ...
Dashboard cameras: Crusader's all you need to know guide image
Source : Daily Express [Read Article] Wednesday 11th of November 2015 03:44:00 PM
....com. “Dash cams are more to do with businesses’ risk management rather than the discount element,” he says. ...
A third of care homes face crisis: Insolvency experts expect hundreds of firms to go bust image
. Of the UK’s 5,500 care home operators, the risk management group estimates that as many as 1,650 companies are struggling financially, and of those it expects a quarter, which account for 1,500 sites, to fall into insolvency. ...
In the City: Fireworks at Electra's Bonfire Night meeting image
Source : Telegraph [Read Article] Thursday 5th of November 2015 07:26:52 PM
.... It wants what other shareholders want: a rise in value. The team is yet to convince most of the other shareholders of the value in its ideas, which would include lowering debts and looking again at fees and risk management in the portfolio. ...
Bankers reap rewards of economic recovery image
Source : Telegraph [Read Article] Sunday 25th of October 2015 09:38:00 PM
....” . Regulatory changes have pushed up demand for compliance and risk management staff in recent years, and the intensity of those legal demands is showing no signs of fading, as banks get closer to some deadlines for implementing crisis-era regulations. ...
Rogue trader behind biggest UK fraud banned from working in City image
Source : Guardian [Read Article] Friday 16th of October 2015 01:32:14 PM
....He is fighting deportation from the UK – where he was once head boy at a Quaker boarding school in Yorkshire – and hopes to give advice on preventing fraud in the future. Sara George, the partner at law firm Stephenson Harwood who represented Adoboli during his trial, said: “He has served a substantial sentence as a result of his actions and now wishes to repay his debt to society by making a positive contribution to our understanding of how risk management controls in financial markets might be circumvented, from his own personal experiences. ...
Rogue trader Kweku Adoboli banned from the City image
Source : Telegraph [Read Article] Friday 16th of October 2015 12:58:21 PM
.... . "He has served a substantial sentence as a result of his actions and now wishes to repay his debt to society by making a positive contribution to our understanding of how risk management controls in financial markets might be circumvented, from his own personal experiences. ...
UBS trader banned for life from City image
Source : BBC [Read Article] Friday 16th of October 2015 12:49:28 PM
.... My hope now is to move forward in a positive way to help others learn from the mistakes I've made," he said. Adoboli's solicitor, Sara George of law firm Stephenson Harwood, said he wanted to repay his debt to society by using his own experience to explain how risk management controls might be avoided. ...
Britain's biggest banks to be forced to separate retail banks from investment arms image
.... . “Ring-fenced banks will have to become autonomous from the rest of their groups in a whole host of ways – from needing their own risk management resources, to re-engineering their relationships with financial market infrastructures (including the Bank of England itself), and disentangling the complex financial connections between different parts of the group. ...
London's finance jobs grow - despite bank layoffs image
Source : Telegraph [Read Article] Friday 9th of October 2015 02:52:46 PM
.... . Almost six in 10 companies agreed that there was a skills shortage in their industry, particularly in compliance and risk management. ...
LEGO Group: 'It's within our company DNA to act responsibly towards children' image
Source : Guardian [Read Article] Thursday 24th of September 2015 12:00:55 PM
....How do we ensure children are treated respectfully, that all LEGO facilities and activities are safe for children, and that all employees engage with children in positive interactions that promote their development?. This year, we created a global mapping of where and how our business engages with children, to enable us to set up a more systematic child protection risk management system - driven by a new child protection policy, and improved guidelines and training (Principle 4). ...
BlackRock’s first employee and Co-President Charles Hallac dies at 50 image
Source : Independent [Read Article] Thursday 10th of September 2015 09:05:08 AM
....Mr Hallac helped in building the firm’s technological and operational foundations. He was the initial architect of a risk management system called Aladdin, which now has 20,000 users with around $15 trillion in assets tied to it. ...
UK services sector bounces back after weak start to 2015, CBI data shows image
Source : Guardian [Read Article] Thursday 27th of August 2015 11:01:19 PM
....“Companies are still looking to invest in people and capital, especially in IT, which will help them exploit new technology and boost productivity. But difficulties in finding staff with the right skills for firms to grow is a mounting concern, and with recent turbulence in the markets risk management skills are likely to be in demand. ...
Deloitte reveals its gender pay gap image
Source : Telegraph [Read Article] Monday 24th of August 2015 04:00:10 AM
.... . “Whilst we saw some hesitation in the run-up to the General Election, the broad-based increase in appetite from UK plc to invest in growth, productivity and efficiency improvements, governance and risk management and their customer focus has contributed to a positive set of results for our firm,” said Mr Sproul. ...
Co-op Bank predicts two more years of losses after £204m loss in first half of 2015 image
....“It will be a wee bit of time before we are ready to IPO,” he said. “We must focus on keeping our products simple, continuing to reinforce risk management and systems, strengthening our culture and maintaining our high levels of service. ...
Record wave of finance workers want to move job image
Source : Telegraph [Read Article] Sunday 16th of August 2015 11:01:28 PM
.... . Part of the reason for the increase in finance pay is that specialised skills are in very high demand, with banks and other finance firms willing to splash out on staff for their risk management and regulatory compliance departments. ...
Hermes signals fund’s interest in buying back into UK banks image
Source : Telegraph [Read Article] Sunday 16th of August 2015 06:50:25 PM
.... . Niall Booker, the bank’s chief executive, told The Daily Telegraph that the regulators held back from punishing the bank for risk management failings in a show of support for investors who rescue banks. ...
Co-op Bank let off from £120m fine to keep hedge funds sweet, says chief image
Source : Telegraph [Read Article] Saturday 15th of August 2015 07:00:25 PM
.... . The Co-op was censured this week by the Prudential Regulation Authority and the Financial Conduct Authority for “serious and wide-ranging failings” in its control and risk management framework from 22 July 2009 to 31 December 2013, during which time it failed to be “open and co-operative” with regulators. ...
G4S confident on full-year growth as sales rise image
Source : Telegraph [Read Article] Wednesday 12th of August 2015 09:24:42 AM
.... . Asia and the Middle East was the star division, with underlying profits up 10pc to £56m, driven by improved productivity and large contract wins in aviation services, risk management and electronic security systems. ...
Shell Arctic drilling 'risky' image
Source : BBC [Read Article] Wednesday 12th of August 2015 06:39:36 AM
....”. Asked if he accepted that he could be remembered as the CEO who led Shell into a calamitous mistake that closed down Arctic drilling, he said: “If you are in our industry there are always significant risks that you have to worry about and therefore you have to have a very, very strong risk management framework, a very, very good risk management culture and an open and transparent dialogue within the company about what are the risks that you take on. ...
Source : Independent [Read Article] Wednesday 12th of August 2015 12:25:16 AM
....Andrew Bailey. the chief executive of the PRA, said: “Co-op Bank’s failings stand out both for the duration and seriousness of the risk management and control deficiencies uncovered. ...
Watchdog pity for Co-op Bank image
Source : Daily Express [Read Article] Wednesday 12th of August 2015 12:01:00 AM
....Regulators investigating the period July 2009 to December 2013 found the bank had failed to deal with them “in an open and cooperative manner”. Its controls and risk management were flawed and its management was not apprised of key issues, damaging its ability to manage the business effectively. ...
Chinese yuan: everything depends on what happens next image
Source : Guardian [Read Article] Tuesday 11th of August 2015 06:45:01 PM
....Related: Why has China devalued its currency now and what impact will it have?. “Co-op Bank’s failings stand out both for the duration and seriousness of the risk management and control deficiencies uncovered,” says Andrew Bailey, the chief executive of the Bank of England’s Prudential Regulation Authority (PRA). ...
The Co-op bank: now it is time to play the blame game image
Source : Guardian [Read Article] Tuesday 11th of August 2015 01:37:15 PM
. “Co-op bank’s failings stand out both for the duration and seriousness of the risk management and control deficiencies uncovered,” said Andrew Bailey, chief executive of the Bank of England’s prudential regulation authority (PRA). ...
Co-op Bank spared fine but individuals remain under investigation, says FCA image
....Covering a period from July 2009 – around the time of the Co-op Bank’s deal with Britannia Building Society – to December 2013, the regulators found the bank had not been “open and cooperative” and had a culture which prioritised the short-term financial position of the firm at the cost of long-term stabiliity. “Co-op Bank’s failings stand out both for the duration and seriousness of the risk management and control deficiencies uncovered. ...
Co-op Bank escapes £120m fine for serious misconduct image
Source : Telegraph [Read Article] Monday 10th of August 2015 08:50:55 PM
.... . After an 18-month inquiry into the bank's conduct, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority found "serious and wide-ranging failings" in Co-op Bank’s control and risk management framework from July 22 2009 to December 31 2013, during it which time it failed to be "open and co-operative" with regulators. ...
Profits surge boosts Lloyds image
Source : Daily Express [Read Article] Saturday 1st of August 2015 12:41:00 PM
....Lloyds’ interim pre-tax profit jumped 38 per cent to £1. 2billion as an improving economy and better risk management helped it reduce its impairment charge by 75 per cent to £179million. ...
Deutsche Bank must do better, new chief John Cryan tells staff image
Source : Telegraph [Read Article] Thursday 30th of July 2015 03:37:20 PM
....2bn for litigation, compared with €443m in the same period of 2014. The lender's staff costs also increased as it hired more compliance and risk management staff in an effort to comply with new rules and reduce its legal costs in future. ...
Prove you understand your risks or hold more capital, banks told image
Source : Telegraph [Read Article] Wednesday 29th of July 2015 04:37:27 PM
. Banks have to beef up their risk management controls or face the expensive consequences of building up bigger capital buffers, the Bank of England said, in the latest drive to make banks more stable. ...
PayPal valued at $50bn in stock market debut following eBay split image
Source : Telegraph [Read Article] Monday 20th of July 2015 04:43:38 PM
.... However, PayPal will have to compete with the likes of Apple Pay, which launched in the UK last week, if it wants to win in mobile payments. The company believes that its ability to work across different devices and its expertise in risk management give it an advantage. ...
Morgan Stanley defies bond trading squeeze to post rise in revenues image
Source : Telegraph [Read Article] Monday 20th of July 2015 03:38:49 PM
.... . “We delivered a strong quarter across each of our businesses, through client-focused execution, expense discipline and prudent risk management. ...
The food sector braces itself for crackdown on modern-day slavery image
Source : Guardian [Read Article] Friday 17th of July 2015 01:28:24 PM
....Any statement should also include details of the companies’ due diligence process to guard against forced labour and, most importantly, a risk assessment of its business and supply chain. This will help identify where there is risk of slavery and human trafficking and the risk management steps the company has taken to reduce that. ...
Greek deal in sight as Germany bows to huge global pressure for debt relief image
.... Mr Lew said the two sides were only €2bn a part when talks broke down, yet potentially hundreds of billions are at stake if the crisis spins out of control. He deemed it a bizarre form of risk management. ...
Source : Independent [Read Article] Wednesday 24th of June 2015 12:48:17 AM
.... Other new UK rules include a ban on bonuses for managers in firms that get state bailouts. “This is a crucial step to rebuild public trust in financial service, and allows firms and regulators to build long-term decision making and effective risk management into people’s pay packets,” said Martin Wheatley, head of the FCA. ...
Top City bankers must wait 10 years for guaranteed bonuses, watchdogs rule image
.... Martin Wheatley, head of the FCA, said: “Our rules will now mean that senior managers face clawback of bonuses for up to 10 years, if misconduct comes to light. This is a crucial step to rebuild public trust in financial services, and allows firms and regulators to build long term decision making and effective risk management into people’s pay packets. ...
Bankers face ten-year wait for their bonuses under new rules image
Source : Telegraph [Read Article] Tuesday 23rd of June 2015 12:22:22 PM
.... . "This is a crucial step to rebuild public trust in financial services, and allows firms and regulators to build long-term decision making and effective risk management into people's pay packets. ...
New rules for bankers' pay launched image
Source : BBC [Read Article] Tuesday 23rd of June 2015 11:02:31 AM
.... . "Our intention is that people in positions of responsibility are rewarded for behaviour which fosters a culture of effective risk management and thus promotes the safety and soundness of individual institutions. ...
Cyber attacks cost British industry £34bn a year image
Source : Telegraph [Read Article] Wednesday 10th of June 2015 04:00:25 AM
.... . “It’s about risk management – do you understand the business and the assets you have, what an adversary would want from you: is it teenagers looking to deface your website or a geo-political hacking looking to steal your intellectual property?” . ...

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