In the News
A-Team Group, June 2010 - FRSGlobal's Brammertz Propounds Risk Management Benefits of the US Office of Financial Research
The plans for the establishment of a US-based reference data utility in the guise of the Office of Financial Research continues to make its way through the US political system and it seems that many of those from the risk management world feel it will make a difference for the better. The Professional Risk Managers’ International Association (PRMIA) has given its seal of approval (see our coverage here) and vendors such as FRSGlobal are also hopeful that it will provide much needed clarity around data standards. Willi Brammertz, senior risk advisor at the vendor, explains how he reckons it will help firms to meet their liquidity risk and Basel III requirements.
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IBS Journal, June 2010 - Indonesia’s Bank Bukopin first local bank to sign with FRSGlobal
‘The regulator has become very active and is placing a tremendous amounts of demand on the Indonesian banks to hold information centrally,’ says Thurley. When talking of FRSGlobal generally he says, ‘our order book is very full’.
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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.”
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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) »
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