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Offshoring risk: Portfolio treatment and the role of operational risk
Offshoring offers financial services organizations attractive cost, efficiency and performance benefits, but it also introduces a wide array of risks. BearingPoint examines the importance of risk management in establishing and maintaining an effective offshoring operation. Enterprise Risk Portfolio Management Financial institutions have initiated a multitude of risk and compliance projects in recent years in response to Basel II, the Sarbanes-Oxley Act and other requirements. Nine Pitfalls of Compliance Program Implementation Financial institutions have invested heavily to comply with the numerous laws and regulations now governing the business world. Even the most sophisticated compliance systems and processes, however, can be rendered ineffective if your firm focuses on the wrong metrics, underestimates the extent of the requirements or fails to get the right people involved. Basel II and Sarbanes-Oxley: Convergence or collision? Implementing an integrated approach The Sarbanes-Oxley Act of 2002 has attracted the lions share of risk management effort and resources over the last three years for public companies operating in the United States. Yet it is by no means the only major regulatory change affecting financial institutions. Integrating Sarbanes-Oxley Controls Into Your Corporate Governance Framework Many companies have established separate governance procedures for Sarbanes-Oxley controls, believing that financial reporting risks are somehow different from other business risks. This lack of a direct connection between policies and procedures means that companies have no assurance that controls are working and that the risk is being effectively managed. Scenario analysis for Basel II operational risk management Financial institutions have always recognized the importance of safeguarding customer data. Several recent events in the market place have become significant due to never-before-seen levels of regulatory fines and litigation expenses... Basel II Operational Risks - Avoiding the seven pitfalls in Basel II operational risk implementation The Basel II Capital Accord is compelling large, internationally active banks to see operational risk in a new, brighter light. By formally introducing operational risk into risk management and capital calculation, Basel II is moving these institutions to explicitly identify, measure and report information related to operational risk. Many smaller banks and non-bank financial institutions are following suit. A New Paradigm in Enterprise Governance Passing Sarbanes-Oxley review signifies only that your firm has implemented internal controls for financial reporting. It does not mean that your organizations governance model is adequate to the task of maintaining and modifying those controls as needed. Document Generation: Digitization in Action Modern financial services organizations still need publishable documents to support certain processes and meet regulatory requirements. Many customer-facing and "back-office" functions have been automated for years, employing processes and technologies that produce digital documents. Just How Secure are Your Offshore Vendors? Business Process Management - Facilitating compliance with BPM Designing and Implementing a Continuity of Operations Solution - Helping financials services firms respond to emergenices Data Security, Privacy, Integrity and Compliance Protecting Digital Information Assets - Steps financial services firms can take to reduce security risks Organizational Survival Planning - Designing and implementing a continuity of operations solution for financial services firms Risk and Identity Management for Fiancial Services Records Management and Information Life Cycle Management - Reconciling compliance and cost challenges Six Things Every Bank Should Understand Before Completing an Online Banking Risk Assessment Risk assessments are the foundation of any good security program. In this paper, CC Pace's banking security experts take you through the six most important things that your financial institution should understand before completing an online banking risk assessment, from the FFIEC's recent guidance to knowing when you are truly finished and when to call for help. Operational Risk Management: Three, Two, One, Liftoff? With the significant momentum of regulatory initiatives like Basel II and Sarbanes-Oxley (SOX), more attention is now focused on tackling issues related to operational risk. By Celent Risk Management Intelligence: Improving Recovery and Profits Using Risk Intelligence When it rains, it pours. And recently, with such situations as the debt crisis in Argentina, the collapse of the telecom sector, and the all-round weakened economic environment, corporate default rates have risen across the world-causing a considerable adverse affect on the profitability of financial institutions. Downturn LGDs for Basel II Here is the Basel Committee's Guidance regarding a "principles-based" approach to satisfying the requirements of paragraph 468.2. This paper provides a brief comment on the Guidance, discusses our major concerns regarding DLGDs, and also provides the results of new research on the cyclicality of LGDs for several credit product categories within the U.S. Findings From the 'Compliance and Risk' Research Community: Managing Risk Outside the IT Organization IT organizations are increasingly called on to manage business risk, not just IT. Use a tool such as the Gartner Simple Enterprise Risk Management framework to define risk, but be sure to let topic experts perform final risk assessments. From Gartner The Role of Security Management in Regulatory Compliance, eTrust New and emerging laws and regulations relate to specific or all industries and impact a wide variety of enterprises. From eTrust (Click to view in browser, right-click to save.) Analysis Of Business Driven Metrics: Measuring For Security Value As budgets for security have increased, the need to measure and understand how much value those investments are creating for the enterprise is increasing across management ranks. A Frost & Sullivan Whitepaper Sponsored by Intellitactics (Click to view in browser, right-click to save.) Risk Management and Basel II: Comparing the Financial and Credit Risk Solution Vendors Risk management and Basel II implementations have been progressing for the past two years within most large institutions, and it is fair to say that momentum has reached a considerable pace, at least in Europe. From Celent(Click to view in browser, right-click to save.) |
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