In her first video blog post of the Compliance Series, Interesting Shifts in the Compliance Space, Saloni Ramakrishna presented a bird's eye view of the shifts...
In her first video blog post of the Compliance Series, Interesting Shifts in the Compliance Space, Saloni Ramakrishna presented a bird's eye view of the shifts in the compliance landscape. In her second video blog of the series, Ms. Ramakrishna discusses what's driving compliance in the 21st century. The classes of compliance drivers she discusses are: Direct Drivers such as the complexity of the financial services industry, regulatory rigor and intrusive supervision...
In her first video blog post of the Compliance Series, Interesting Shifts in the Compliance Space, Saloni Ramakrishna presented a bird's eye view of the shifts in the compliance landscape. In her...
Introducing Saloni Ramakrishna, Senior Director at Oracle and Author of Enterprise Compliance Management - An Essential Toolkit for Banks & Financial...
Introducing Saloni Ramakrishna, Senior Director at Oracle and Author of Enterprise Compliance Management - An Essential Toolkit for Banks & Financial Institutions, a Wiley publication. She presents a video blog series on Compliance - the theme being that active compliance can be turned into a competitive advantage and a value differentiator. In her first post, Saloni Ramakrishna discusses interesting shifts in the compliance landscape, such as: Preventive interventions by...
Introducing Saloni Ramakrishna, Senior Director at Oracle and Author of Enterprise Compliance Management - An Essential Toolkit for Banks & Financial Institutions, a Wiley publication. She presents a...
Financial Institutions, even large to mid size in nature, maintain model critical information on a silo’d basis and as a natural extension of the same, the...
Financial Institutions, even large to mid size in nature, maintain model critical information on a silo’d basis and as a natural extension of the same, the risks arising from these models are also managed on a silo’d basis. For instance, while retail banking division may maintain the model information in a spreadsheet, wholesale banking quite possibly might have established a more robust solution based approach to capture and maintain model information. Most often, top...
Financial Institutions, even large to mid size in nature, maintain model critical information on a silo’d basis and as a natural extension of the same, the risks arising from these models are...
The IFRS 9 final guidelines come into effect on the 1st of January 2018. These guidelines on Expected Credit Losses (ECL) appear to be more principles-based and...
The IFRS 9 final guidelines come into effect on the 1st of January 2018. These guidelines on Expected Credit Losses (ECL) appear to be more principles-based and are expected to replace the erstwhile IAS 39. This blog discusses the impact and challenges faced specifically by Financial Institutions (FIs), while IFRS 9 is not only confined to FIs. Based on various surveys conducted, it has been estimated that the new expected loss approach will result in banks’ provisions...
The IFRS 9 final guidelines come into effect on the 1st of January 2018. These guidelines on Expected Credit Losses (ECL) appear to be more principles-based and are expected to replace the erstwhile...
Model risk is not a new concept to financial services institutions. Financial institutions (FIs) make extensive use of models for strategic decision making and...
Model risk is not a new concept to financial services institutions. Financial institutions (FIs) make extensive use of models for strategic decision making and operational requirements. While FIs are willing to undertake model risk as a calculated risk for conducting their business, of late the regulators have started emphasizing the need for effective model risk management and governance. Supervisory Guidelines on Model Risk Management The Federal Reserve Board of the US...
Model risk is not a new concept to financial services institutions. Financial institutions (FIs) make extensive use of models for strategic decision making and operational requirements. While FIs are...
Early start today for the Compliance Forum on day two of Sibos which was three quarters full, a little surprising considering compliance is one of the main...
Early start today for the Compliance Forum on day two of Sibos which was three quarters full, a little surprising considering compliance is one of the main themes of the conference but maybe the 8 am start wasn’t the ideal time for Sibos delegates. The opening was moderated by The Economist’s Jonathan Rosenthal who introduced both Je-Yoon Shin, President of the Financial Action Task Force on Money Laundering (FATF), and Tai Boon Leong, Executive Director, Banking Department,...
Early start today for the Compliance Forum on day two of Sibos which was three quarters full, a little surprising considering compliance is one of the main themes of the conference but maybe the 8 am...
According to the Office of the Comptroller of the Currency (OCC), over the coming financial year, the US supervisor will be looking ever more closely at how...
According to the Office of the Comptroller of the Currency (OCC), over the coming financial year, the US supervisor will be looking ever more closely at how banks are adapting to evolving AML and cyber security threats, whilst maintaining strong governance and oversight processes and programmes, including documented gaps and timelines to close them. This follows similar messages and focus areas from global regulators such as the UK’s Financial Conduct Authority who earlier...
According to the Office of the Comptroller of the Currency (OCC), over the coming financial year, the US supervisor will be looking ever more closely at how banks are adapting to evolving AML...
Big data is a trendy topic right now, not only in financial services, but across all industries. However, it’s certainly not a new topic. Over five years ago,...
Big data is a trendy topic right now, not only in financial services, but across all industries. However, it’s certainly not a new topic. Over five years ago, The Economist magazine featured an article called The Data Deluge that explained how quickly the quantity of information in the world is growing and how hard it is to store and analyze this data. The author further explained the benefits of monitoring data (i.e. credit card companies identifying fraud) and the...
Big data is a trendy topic right now, not only in financial services, but across all industries. However, it’s certainly not a new topic. Over five years ago, The Economist magazine featured an...
With a persistent low growth environment, myriad of regulatory obligations and most banks running after a finite set of “good” customers, bank profitability is...
With a persistent low growth environment, myriad of regulatory obligations and most banks running after a finite set of “good” customers, bank profitability is under great pressure. One niche lever in the hands of the banker in such a challenging environment is pricing. Going by the business model in a competitive environment where a new entrant is expected to have very aggressive pricing, there is the strategy aspect for the other incumbents, who need to use price to retain...
With a persistent low growth environment, myriad of regulatory obligations and most banks running after a finite set of “good” customers, bank profitability is under great pressure. One niche lever in...
