Risk Management

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Greg MacSweeney
Greg MacSweeney
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Lloyds Lacking Risk Controls? Weisel's Armstrong Ties Questioned, and More News of the Week

Lloyds Bank, following a few systems failures in 2012, is facing accusations from a former executive that risk controls are lacking, while Thomas Weisel is under scrutiny for ties to Lance Armstrong, HSBC can't get away from its money laundering settlement and "genius" trader risk top this weeks chatter in the press and on Twitter.
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3. Too Smart For Your Own Good

A 'genius' can blow up the bank just as much as a 'rogue' can. In that case it behooves risk managers across all disciplines to spend as much time and effort on identifying and addressing the risk of the genius as that of the rogue.

— Andrew Waxman, contributing editor, Advanced Trading

Source: advancedtrading.com: How to Manage Genius Trader Risk

 

Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio

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Melanie Rodier
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Melanie Rodier,
User Rank: Author
1/24/2013 | 10:28:13 PM
re: Lloyds Lacking Risk Controls? Weisel's Armstrong Ties Questioned, and More News of the Week
Funny quotes, though it's unfortunately true that HSBC, and so many other financial institutions have never really been held accountable for their mistakes. Hopefully the new guard at the SEC will be able to change some things, at least going forward...
Cara Latham
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Cara Latham,
User Rank: Apprentice
1/23/2013 | 2:09:35 PM
re: Lloyds Lacking Risk Controls? Weisel's Armstrong Ties Questioned, and More News of the Week
Good collection of funny quotes!
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