In the News
Swiss Business, May 2010 - The human side of risk management
The weak point of internal risk management in banks is the human being, which is also the main part of the solution.
“Operational risk is a non-financial risk that is, however, very much driven by both market and credit risks” explains Ioannis Akkizidis, senior financial risk analyst at FRSGlobal Switzerland, a regulatory reporting and risk analysis consultancy, and member of the steering committee of Zurich Chapter PRMIA, an international risk management association. “Operational risk is measured quantitatively based on actual or potential financial losses that it can or will cause.”
Read the full article, courtesy of Swiss Business (subscription required) »
Wall Street Journal, April 2010 - FSA fines Commerzbank for reporting failures
"I don't think it's any coincidence that these fines come as the FSA cracks down on insider trading, and in some cases a lack of records can hamper efforts to investigate," said Selwyn Blair-Ford, senior domain expert at regulatory consultancy FRSGlobal.
Read the full article, courtesy of Wall Street Journal (subscription required) »
Financial News, April 2010 - Fear drives rethink of value-at-risk models
However, some in the risk business believe stressed versions of VaR contain the same flaws as the basic measure. Selwyn Blair-Ford, senior domain expert at regulatory consultancy FRSGlobal, said: "The idea of a stressed VaR is an oxymoron. Any model that calculates risk by multiplication is suspicious."
Read the full article, courtesy of Financial News (subscription required) »
A-Team Group, April 2010 - "FRSGlobal’s Brammertz Talks up a More Balanced Approach to Risk Beyond VaR"
Value at risk (VaR) should not be used in isolation but rather as one tool within a wider risk modelling toolbox that comprises of both mathematical models and scenario testing, according to Willi Brammertz, senior risk advisor at risk and regulatory reporting solution vendor FRSGlobal.
Read the article courtesy of A-Team Group (subscription required) »
RiskProfessional, April 2010 - "The global regulatory response"
The reshaping of the regulatory landscape – aggressive in outline, challenging to execute and coordinate, and raising plenty of new compliance issues – has only just begun.
Written by Selwyn Blair-Ford.
Read the full article here »
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