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Analytics

Risk Data Aggregation & Risk Reporting: Will You Be Compliant With BCBS 239 Principles In Time?

Given the phenomenal growth of the financial services industry over the past decade, resulting in a much greater demand on data provisioning, it was imperative...

Given the phenomenal growth of the financial services industry over the past decade, resulting in a much greater demand on data provisioning, it was imperative that sizeable investments were made in risk data aggregation frameworks to support a bank’s profitable business model.  The rewards of such would have been immeasurable during the recent crisis, simply for the fact that a complete view of what risk was being run against each exposure, counterparty, customer, product,...

Tackling The New Basel Committee Guidelines on AML/FT Risk Management

On 15th January 2014, The Basel Committee on Banking Supervision issued a set of guidelines, "Sound management of risks related to money laundering and...

On 15th January 2014, The Basel Committee on Banking Supervision issued a set of guidelines, "Sound management of risks related to money laundering and financing of terrorism", describing how banks should include the management of risks related to money laundering and financing of terrorism within their overall risk management framework. In the report, the Committee points out that, "prudent management of these risks together with effective supervisory oversight is critical...

New Regulatory Measures Against Money Laundering: Are You Ready?

As the U.S. Department of Treasury enhances the requirements for anti money laundering (AML) surveillance, Financial Services Institutions (FSIs) are working to...

As the U.S. Department of Treasury enhances the requirements for anti money laundering (AML) surveillance, Financial Services Institutions (FSIs) are working to ensure compliance while reducing costs.  These organizations are taking a fresh look at their AML systems with an eye toward expanding automation, improving performance, standardizing processes, and improving transparency.  Firms that invest wisely can create a compliance environment that meets immediate and future...

Managing Enterprise GRC and Big Data: Risk vs. Reward

In his previous blog Big GRC: Turning Data into Actionable GRC Intelligence, Matthew Long discussed Big Data and how it can affect the GRC process. In this...

In his previous blog Big GRC: Turning Data into Actionable GRC Intelligence, Matthew Long discussed Big Data and how it can affect the GRC process. In this post, I would like to emphasize a very basic aspect of operational risk management: to strike risk-reward balance. Enterprise Governance, Risk & Compliance (EGRC) is increasingly becoming an umbrella term to refer to the enterprise activities in the area of GRC. These three areas are being progressively aligned through the...

Big GRC: Turning Data into Actionable GRC Intelligence

While it’s no longer headline news that Governments have carried out large scale data-mining programmes aimed at terrorism detection and identifying other...

While it’s no longer headline news that Governments have carried out large scale data-mining programmes aimed at terrorism detection and identifying other patterns of interest across a wide range of digital data sources, the debate over the ethics and justification over this action, will clearly continue for some time to come. What is becoming clear is that these programmes are a framework for the collation and aggregation of massive amounts of unstructured data and from...

Solvency II: The Latest Developments from a Data Management Perspective

In pure Brussels’ style, as Members of the European Parliament (MEPs) start packing to hit the campaign trail at home for the 2014 European election, many of...

In pure Brussels’ style, as Members of the European Parliament (MEPs) start packing to hit the campaign trail at home for the 2014 European election, many of the dossiers that have been lingering during the past legislature are being pushed across the finish line. Even Solvency II, which holds many sluggishness records, appears about to be resurrected from the induced coma it has suffered since QIS5. Over the past couple of weeks, EIOPA published the interim measures followed...

In a World of Complex Banking Regulations: Perhaps Less means More!

The combination of new regulations, including Basel III and Dodd-Frank, with an increasingly uncertain business environment, has led to the realization within...

The combination of new regulations, including Basel III and Dodd-Frank, with an increasingly uncertain business environment, has led to the realization within the financial services industry that the disciplines of model risk management, liquidity risk management, and risk data aggregation are interrelated business obligations.  Despite the market challenges, financial institutions must now devise a sustainable return to grown and at the same time be better protected against...

Drive Business Growth by Unlocking Rich Customer Insights Using Big Data Within Financial Services

Managing loyal customers is critical to the success of any bank – be it Retail or Wholesale. What is equally, if not more, important is the analytics that...

Managing loyal customers is critical to the success of any bank – be it Retail or Wholesale. What is equally, if not more, important is the analytics that enable banks to develop and execute a successful Customer strategy. It should come as no surprise to anyone that understanding Customer Profitability, i.e. the value the customer drives for the bank, is the first step taken to build a differentiated customer experience where the most profitable and loyal customers are...

National Australia Bank Making Bold Changes to Secure Its Future by Integrating Risk and Finance

National Australia Bank (NAB), founded in 1893, is a financial services institution serving over 12 million customers with a full range of retail, commercial...

National Australia Bank (NAB), founded in 1893, is a financial services institution serving over 12 million customers with a full range of retail, commercial and wealth management services and products. NAB operates in more than 1,750 stores and service centers globally. They are ranked as the 17th largest bank in the world. Like most financial institutions, National Australia Bank found that the traditional rules of banking no longer applied. In today’s extremely challenging...