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Don’t Choose Your Enterprise Case Management System Without Reading This!

Enterprise Case Management (ECM) in compliance space is a hot topic today. Institutions are focusing on ECM as a means to achieve productivity gains and win...

Enterprise Case Management (ECM) in compliance space is a hot topic today. Institutions are focusing on ECM as a means to achieve productivity gains and win customers. I believe there are three primary drivers for this line of thinking: Replacing a detection or transaction/activity monitoring system is costly and risky.  It is costly because you need to revamp everything from your data to your detection models.  It is risky because touching your models means drawing scrutiny...

The New World of Risk Management and Data Excellence: Avoid These Data Modeling Mistakes Upfront

In my previous blog on June 12th, I discussed what we can imagine to be a solid foundation to the Risk and Finance initiatives. Obviously, it is not just about...

In my previous blog on June 12th, I discussed what we can imagine to be a solid foundation to the Risk and Finance initiatives. Obviously, it is not just about the data model and that is the first point I would like to address today. Many vendors that strive to deliver a warehouse designed to service more than a handful of users within a business department tout an extensive, comprehensive logical data model. The role and need of a logical model is important and uncontested,...

Operational Risk: Going Beyond Capital Calculations and Adding Business Value

The 15th Annual OpRisk Europe Conference hosted by Operational Risk & Regulation Magazine recently took place in London.  With record levels of attendees, the...

The 15th Annual OpRisk Europe Conference hosted by Operational Risk & Regulation Magazine recently took place in London.  With record levels of attendees, the conference raised a number of interesting perspectives and discussion points, some of which we've shared below and would love to hear your views on. Increased Focus on the Operational Risk Framework/Mechanisms Both financial institutions and supervisors alike claimed that there should and would be more focus on the...

The Virtues and Challenges of Implementing Basel III: What Every CFO and CRO Needs To Know

The Basel Committee on Banking Supervision (BCBS) is a group tasked with providing thought-leadership to the global banking industry.  Over the years, the BCBS...

The Basel Committee on Banking Supervision (BCBS) is a group tasked with providing thought-leadership to the global banking industry.  Over the years, the BCBS has released volumes of guidance in an effort to promote stability within the financial sector.  By effectively communicating best-practices, the Basel Committee has influenced financial regulations worldwide.  Basel regulations are intended to help banks: More easily absorb shocks due to various forms of...

The New World of Risk Management and Data Excellence: 4 Components to Successfully Roll Out Risk & Finance Initiatives

In my previous blog, I addressed the new requirements of the new directive of risk data aggregation and risk reporting from the Basel Committee. In many of the...

In my previous blog, I addressed the new requirements of the new directive of risk data aggregation and risk reporting from the Basel Committee. In many of the banks I meet, the risk function tends to still be seen as a compliance function rather than an active part of the portfolio management of the bank (it is certainly true in developing countries of Asia). Considering the investment in technology, and the more exhaustive requirements of the regulators across the world,...

Use Cases For Unlocking Big Data’s Potential In Financial Services: 3 Steps to Success

In my last blog post, “The Future is Sooner and Stranger Than You Think” I had talked about the characteristics of Big Data in terms of the 4 Vs (Volume,...

In my last blog post, “The Future is Sooner and Stranger Than You Think” I had talked about the characteristics of Big Data in terms of the 4 Vs (Volume, Velocity, Variety, Value), the 5 Ms (Monitoring, Mapping, Management, Middleware, Measurement). Today Big Data is inescapable in the Financial Services industry, with increasing volumes of customer and transactional information flowing through organizations. The FS sector is one of the most data-driven industries, and...

New Basel III Directives Make Sure You Are Not Kicking the Can Down The Road

Risk Managers and Risk Architects were enjoying a slow beginning to the year when the Basel Committee decided to release a new directive of risk data...

Risk Managers and Risk Architects were enjoying a slow beginning to the year when the Basel Committee decided to release a new directive of risk data aggregation and risk reporting. Sure enough, no organization had in earnest thought of the right architecture for risk reporting. So while the new directive did set the scene for additional requirements, it also created the opportunity to address the shortcomings that exist in the areas of risk data. Banks do differ in their...

CCAR Stress Testing: The Devil Lies in The Data?

So much has been written about the models being the source of all evils in the risk management space. Surely the breaking down of correlation matrices was...

So much has been written about the models being the source of all evils in the risk management space. Surely the breaking down of correlation matrices was responsible to a large extent in the erroneous assessment of the exposures and real risk being carried in the balance sheet of our financial institutions prior to the 2008 crisis. In his nomination hearing Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Alan Greenspan had clearly stated that...

Overcoming GRC Silos Through Analytics and Reporting

As I mentioned in the previous blog "When best of breed financial crime and compliance “point solutions” aren’t enough", many companies are increasingly looking...

As I mentioned in the previous blog "When best of breed financial crime and compliance “point solutions” aren’t enough", many companies are increasingly looking to consolidate their various operational risk, compliance, audit and business continuity solutions. This is to help break the GRC silos and create a “single source of the truth” for better risk based decision making. While this is arguably easier using a single GRC data source and a single provider of all GRC linked...