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Risk Management
Financial Crime Risk Management - The Current Regulatory Regime
Questions about the regulatory regime related to the 4th and 5thEU Anti-Money Laundering (AML) directives are among the most frequent ones we have been getting this quarter. There can be no question that businesses are responding to increased regulations and in turn, driving demand for anti-money laundering technology to support
Is your risk perspective keeping pace with market changes?
Let’s start with a question. Do you see risk management as: The responsibility of the Chief Risk Officer, involving a lot of paperwork, and largely a tickbox exercise with no real benefits, but something we have to do; or Everyone’s responsibility, and a chance to have some difficult conversations in
Logre el éxito de la alta dirección mediante un buen manejo del riesgo.
Los episodios económicos y financieros del presente siglo han apremiado al sistema financiero a generar bases exhaustivas, perdurables y también adaptables tanto en el ámbito local como el internacional; sin embargo, aún se siguen analizando, probando, modificando e implementando planes, estrategias e ideas sobre el camino, lo cual no es
Data Scientists im Gesundheitswesen – Chancen im morbiditätsorientierten Risikostrukturausgleich
Seit 2009 sollen der Gesundheitsfonds und der morbiditätsorientierte Risikostrukturausgleich in der deutschen gesetzlichen Krankenversicherung (GKV) für eine ausgewogenere Verteilung der Einnahmen bei den Kassen sorgen. Ziel ist ein sozialer Ausgleich für unterschiedliche Einkommensstruktur und Krankheitslasten bei den Mitgliedern. Über einen sehr interessanten Nebeneffekt, den dieses regulatorische System ungewollt ausgelöst hat,
Self-Service: Erst mal anfangen, dann klappt’s auch mit der Datenqualität!
Das Konzept von Self-Service Analytics wird oft mit innovativen Geschäftsmodellen oder schneller Reaktion auf Kundenanfragen assoziiert. Darüber hinaus kann Self-Service aber auch Mitarbeiter in die Lage versetzen, operative Vorgänge besser und effektiver zu unterstützen. Mit Carsten Krah, Business Expert Risk, Fraud & Compliance bei SAS, habe ich mich darüber unterhalten,
What will SFCR reveal about you?
SFCR, or the Solvency and Financial Condition Report, is the final part of the Solvency II: the public reporting of information. The publication of these reports, and their accompanying public Quantitative Reporting Templates (QRTs), is a big issue for companies. In particular, companies have to decide what they are going
It's time to stop the reactionary compliance tactics
The financial sector has always been subjected to regulatory compliance laws and directives. Consumers, lawmakers and politicians would expect no less. But it's fair to say that the financial sector has witnessed a "hockey stick" trend regarding new regulations in recent years.
Risk management's new stakeholders
We like to think about risk management as a specialist domain. Indeed, at SAS, we have a dedicated team that works with risk officers to exploit analytics for risk mitigation. But from my vantage across analytics platforms, analytics to support risk management has seen fascinating changes. The way that we think
Digitalisierung des Risikomanagements
Seit der Finanzkrise hat das Risikomanagement in Banken an Bedeutung zugenommen und damit auch die Notwendigkeit der Digitalisierung. Neben eigenen Initiativen, forderte aber auch die Regulation ein nachhaltiges Risikomanagement in den Geschäftsprozessen stärker zu verankern. Nach den ersten direkten in Basel III mündenden Vorgaben zu Eigenkapitalanforderungen und Liquiditätsmanagement, hatte die
Solvency II: Where do we go from here?
Solvency II went live almost a year ago. It should therefore have become part of the furniture by now, but it is clear from recent conversations that the journey is by no means over yet. What’s more, there are other challenges facing the insurance industry that will need to be
Model Risk – Why is it important?
The financial crisis led to a deep reflection on the things that Banks and other financial institutions were doing wrong. The most significant factor that led to bad business decisions and in extend the results that we have all been experiencing the past few years, was uninformed analytics. This is
IFRS 17 – „Abwarten und Tee trinken“ ist keine Option
Manchmal ist abwarten und Tee trinken zwar genau die richtige Strategie, aber nicht in Sachen IFRS 17. Hier können und dürfen sich die Versicherer eine solche Haltung nicht mehr leisten. Warum nicht? Weil die Aufsicht spätestens 2021 viele neue Regularien umgesetzt sehen will. Und die sind sehr komplex in ihren operativen
Perseguir el fraude: un paso más dentro del proceso de negocios exitosos
Dentro de toda compañía la búsqueda del éxito es una constante, sin embargo, para alcanzarlo el primer paso es minimizar y de ser posible desaparecer todos los factores de riesgo que puedan ponerlo en peligro, por ejemplo, el fraude. Diversos son los factores que pueden dar paso a la presencia
Will crowdfunding change the approach to credit risk?
Crowdfunding is the practice of funding a project or venture by raising monetary contributions from a large number of people. It has emerged as a way to raise money without involving big lenders, and therefore is often used for projects that simply would not get funding any other way. But
New protection of personal data regulation from the EU – towards a digital Europe
The European Parliament has adopted new personal data protection regulation. This must be implemented in all organisations by end of May 2018, and applies also to EEA countries. The new rules mean increased responsibility for businesses and public administration, substantially higher penalties for violations, and a greater focus on control
IFRS 9 – Closing the Gap: a look into the Governance process
After the financial crisis of 2008, concerns have been raised about “too little, too late” provisioning for loan losses and IFRS 9 is coming to enforce the adoption of a new expected credit loss (‘ECL’) model for the measurement and recognition of impairment. This aims to address concerns and accelerates
Risk Data Aggregation and Reporting – Why now more than ever? – Part 2 of 2
In a previous blog article, Risk Data Aggregation and Reporting – Why now more than ever? – Part 1, I have discussed the requirements of the paper of the Basel Committee numbered 239 and one of the reasons the execution or application of the principles discussed therein is important for
IFRS 4 Phase II: why you can’t afford to wait
There are times when ‘wait and see’ is the ideal strategy. Research shows, for instance, that some forms of prostate cancer are so benign that doing nothing except monitor is genuinely the best way to avoid harm. But with IFRS 4 Phase II, on accounting for insurance contracts, it is
Should credit risk include social media data?
“It is a truth universally acknowledged…” that credit risk assessment is not always either accurate or fair. Indeed, some would say that was putting it mildly, for those with little or no credit history they likely to be badly served by the current market. One way in which it has
How analytics is enabling credit risk digitalization
Digitalization - the move towards a more digital world - is a well-established phenomenon. But the digitalization journey is not the same in every sector. Traditional practices, available skills and competitive forces are creating a new set of dynamics in the credit risk sector. Providers are coming under significant pressure
Versicherungen: Modernisierung mit Analytics
Versicherungen stehen massiv unter Druck. Negative Zinsen und ein hoher regulatorischer Druck führen auch nicht gerade zu Euphorie (versicherungswirtschaft-heute.de). Die Branche klagt, all das sei operativ gar nicht zu schaffen. Was tun? Niedrigzinsumfeld ändern? Geht nicht. Regulatorik beeinflussen? Geht nur partiell. Also bleibt nur, an Effizienz und Automatisierung von Prozessen
Disrupting risk management: how financial models are changing
In many ways financial services is about risk management. Regulatory pressures such as BCBS 239, stress-testing, IFRS9, Solvency II and the Fundamental Review of Trading Book have hugely strengthened that focus. But there are other concerns too. Cost pressures are increasingly important, as is the rise of challengers to the
Damit Betrüger keinen Fuß in die Unternehmenstür bekommen!
Formulare sind fester Bestandteil unseres Alltags. Bereits bei der Geburt werden wir datums-, geschlechts-, gewichts- und größentechnisch erfasst – sei es auf Papier oder elektronisch. Und das zieht sich durch unser ganzes weiteres Leben. Für unsere Kinder müssen wir Formulare zur Aufnahme im Kindergarten, in der Grundschule oder in der
Analítica: la llave para descifrar IFRS9 y otras nuevas normas financieras
“Los que busquen saber cuándo podría darse la próxima crisis financiera deberían ponerse un recordatorio para el 1 de enero de 2018”. Así empieza un artículo elaborado por la agencia de noticias Bloomberg y publicado este año en Portafolio. El texto busca llamar la atención en torno a la importancia
To understand IFRS 9 challenges, start with a shared language
For banks across Asia and Europe, a new accounting standard is of increasing importance – IFRS 9. With the first IFRS 9 reporting deadline looming January 1, 2018, banks are trying to understand what they need to do to be ready. At its core, the IFRS 9 accounting standard introduces
¿Cómo identificar oportunidades sin poner en riesgo el éxito de su organización?
Más allá de entender el riesgo como un potencial de pérdida, su definición varía ampliamente dependiendo de la industria y de muchos otros factores. Sin embargo, lo que sí es un común denominador es la necesidad de captar cómo se pueden identificar y aprovechar las oportunidades sin poner en riesgo
Back to the future: From CCAR to enterprise risk management
As everyone in the financial industry knows, CCAR (comprehensive capital analysis and review) was set up as a capital adequacy assessment for the major US banks. Through several years of practice and feedback, CCAR has evolved into a comprehensive stress testing exercise -- and in doing so, created a new
All quiet on the Barnett Front
The Barnett Shale in North Texas hit a historic mark on April 25: Its rig count fell to zero. Two hundred rigs once harvested the 40 trillion cubic feet of natural gas in this massive basin, stretching beneath 17 Texas counties. Today, nothing. This dramatic silence in North America’s second-largest
Impressions from SAS Global Forum 2016 – bigger, more connected and a strong Nordic turnout
Having just returned from a whirlwind week in sunny Las Vegas, Nevada, I want to share with you a few of the many news and impressions from our biggest event of the year. First of all, we were excited to welcome customers, partners and SAS employees to the largest