Operational Risk, Scenario Analysis, and External Events: A Regulatory Perspective
|
|
|
- Dortha Miles
- 7 years ago
- Views:
Transcription
1 Operational Risk, Scenario Analysis, and External Events: A Regulatory Perspective Cambridge Centre for Risk Studies 7-8 December 2011 Peter McCormack Risk Specialists Division, Financial Services Authority This presentation does not constitute FSA guidance and should not be relied on as such. For the authoritative explanation of the FSA position on Operational Risk, Scenario Analysis, and External Events please see the FSA Handbook or contact your relationship manager.
2 Introduction Section 123 of the Insolvency Act 1986 sets out two criteria for a company to be insolvent: Company cannot pay its bills as they fall due; and The company s liabilities are greater than it s assets It is the same for a bank and regulation tries to address both of these issues: The first in banking terms is known as liquidity risk, reflecting the risk in maturity transformation, and regulation requires banks to hold sufficient liquid assets The second in banking terms is known as capital adequacy and requires the bank to understand the risks in their business and hold adequate capital in respect of those risks. 2
3 Capital Adequacy from a capital adequacy perspective, the key risks are the Basel risks of: Credit Risk; Market Risk; and Operational Risk The key differentiating factor about operational risk is that it is not a risk that most firms take on to make a profit, but rather a cost of doing business In addition at the foundation of taking market and credit risk is operational risk 3
4 Interest in Operational Risk Operational risk has been the subject of much interest in the last 20 years and was a key driver of what is known as the Basel 2 Accord (requiring all banks to hold capital against operational risk) Drivers of its interest are the major operational risk failings: - BCCI - Barings - All First - Soc Gen - UBS 4
5 What is Operational Risk? What is Operational risk it is defined by the Basel Accord as People, Process, Systems, and external events, including legal risk Why is it so fundamental you cannot run a business without people, process, and systems All business are at risk from external events which are largely outside of their control 5
6 Management of Operational Risk People have always managed operational risk intuitively based on their experience Modern operational risk management allows firms to combine that intuitive management with systematic operational risk management based on a risk framework and a common language Operational risk can generally be managed on an expected loss (EL) basis (absorbed by annual profitability) and on an unexpected loss (UL) basis (large losses that may need to be absorbed by capital) 6
7 Management of Operational Risk - EL Expected Loss the most common form of this is the use of RCSA supported by a common language risk identification risk assessment probability / impact analysis inherent / residual risk analysis preventative, detective, and mitigative controls design and performance of controls control cluster analysis Risk appetite Key Risk Indicators Management Information 7
8 Risk Assessment Severe IT Systems failure (residual after identification and assessment of controls) IT Systems failure (inherent no controls) Impact on Achievement of Objectives Minor Low Probability High Note: where the residual risk position comes out depends on the risk, the performance of the existing control infrastructure and cost-benefit analysis 8
9 Management of Operational Risk - UL Unexpected Loss scenario analysis and stress testing use of workshops bias* availability / anchor / motivation / * Watchorn, E (2007), Applying a Structured Approach to Operational Risk Scenario Analysis in Australia, APRA Working Paper 9
10 External Events Individual firm scenarios FSA scenario Macro-economic scenario FSA Market Wide exercise 2005 terrorism 2006 pandemic 2009 severe weather 2011 Cyber attack and the Olympics 10
11 Market Wide Exercise Introduced in 2003 to give key players in the UK financial markets the opportunity to respond collectively to major operational disruption Process has attracted attention across the world and is copied by regulatory authorities by US, Canada, Singapore and Australia referred to as the gold standard of sector exercising by the SEC scenarios are designed and challenged by independent market experts web-site set up by the FSA, HMT and the Bank of England: 11
12 Market Wide Exercise 2011 testing the ability of participants to respond to a concerted cyber attack on the financial sector; and Examining the impact of transport disruption against the backdrop of the Olympics Approximately 5000 people from 87 organisations across the financial sector Over 100 FSA staff participating and playing roles in the exercise FSA tests its own Incident Management Framework 12
13 National Risk Register (2010) Cabinet Office
14 Reverse Stress Testing Reverse stress testing requires firms to: Explicitly identify and assess the scenarios that render a business unviable Analyse the likelihood of these scenarios occurring Take mitigating actions now, or put in place triggers for actions in the future Recovery and resolution Recovery plans require firms to identify options to recover financial strength and viability should a firm come under severe stress Resolution planning requires firms to submit detailed information about their business and operational structure via a Resolution Pack 14
15 Integrated Approach to Stress Testing 15
16 Conclusions Operational risk continues to be a cause of major losses for firms. Even when the loss appears to be in another risk category the rootcause analysis often indicates that the underlying cause was an operational risk event. Although it generates less of a capital requirement than credit or market, senior management ignore operational risk at their peril. The severity of scenarios produced by firms, on an objective basis, continues to underestimate the risk suggesting that firms have not been very successful at factoring out bias. 16
17 Questions Dr Peter McCormack Senior Risk Specialist Risk Frameworks & Governance Risk Specialists Division Prudential Business Unit Financial Services Authority 17
November 2007 Recommendations for Business Continuity Management (BCM)
November 2007 Recommendations for Business Continuity Management (BCM) Recommendations for Business Continuity Management (BCM) Contents 1. Background and objectives...2 2. Link with the BCP Swiss Financial
Risk management systems of responsible entities
Attachment to CP 263: Draft regulatory guide REGULATORY GUIDE 000 Risk management systems of responsible entities July 2016 About this guide This guide is for Australian financial services (AFS) licensees
Stress testing in a time of models. Peter Sondhelm, Steve Clark & James Orr
Stress testing in a time of models Peter Sondhelm, Steve Clark & James Orr Agenda Why Stress Test? Users of Stress Tests Imagination vs. Expectation Robust Stress Testing Infrastructure Good / Bad Practice
August 2013 Recommendations for Business Continuity Management (BCM)
August 2013 Recommendations for Business Continuity Management (BCM) 1 Background and objectives... 2 2 Principles... 3 3 Scope of application and threats... 4 4 Recommendations... 6 4.1 Definition and
This section outlines the Solvency II requirements for a syndicate s own risk and solvency assessment (ORSA).
Section 9: ORSA Overview This section outlines the Solvency II requirements for a syndicate s own risk and solvency assessment (ORSA). The ORSA can be defined as the entirety of the processes and procedures
Global Statement of Business Continuity
Business Continuity Management Version 1.0-2014 Date October 18, 2014 Status Author Business Continuity Management (BCM) Page 1 of 8 Table of Contents 1. Credit Suisse Business Continuity Statement 3 2.
The PNC Financial Services Group, Inc. Business Continuity Program
The PNC Financial Services Group, Inc. Business Continuity Program 1 Content Overview A. Introduction Page 3 B. Governance Model Page 4 C. Program Components Page 4 Business Impact Analysis (BIA) Page
Guidance Note: Stress Testing Class 2 Credit Unions. November, 2013. Ce document est également disponible en français
Guidance Note: Stress Testing Class 2 Credit Unions November, 2013 Ce document est également disponible en français This Guidance Note is for use by all Class 2 credit unions with assets in excess of $1
SFJCCAD2 Promote business continuity management
Overview This unit is about providing advice and assistance on business continuity management, including general advice for the business and voluntary sectors, and specific advice and assistance to individual
HOW THE SCHOOL HAS IMPLEMENTED BUSINESS CONTINUITY MANAGEMENT. Andrew Webb Director of Business Continuity
HOW THE SCHOOL HAS IMPLEMENTED BUSINESS CONTINUITY MANAGEMENT Andrew Webb Director of Business Continuity Life Cycle - 1 Understanding the Organisation Our poor response to a major power outage in February
RISK APPETITE STATEMENT
RISK APPETITE STATEMENT make or break? PREPARED BY NADINE BOGHDADI, RISK CONSULTANT WILLIS RISK SERVICES MARCH 2015 When an organisation embarks on defining its risk appetite, the process, debate and discussion
Capital Adequacy: Advanced Measurement Approaches to Operational Risk
Prudential Standard APS 115 Capital Adequacy: Advanced Measurement Approaches to Operational Risk Objective and key requirements of this Prudential Standard This Prudential Standard sets out the requirements
Bank Capital Adequacy under Basel III
Bank Capital Adequacy under Basel III Objectives The overall goal of this two-day workshop is to provide participants with an understanding of how capital is regulated under Basel II and III and appreciate
ICAAP Report Q2 2015
ICAAP Report Q2 2015 Contents 1. INTRODUCTION... 3 1.1 THE THREE PILLARS FROM THE BASEL COMMITTEE... 3 1.2 BOARD OF MANAGEMENT APPROVAL OF THE ICAAP Q2 2015... 3 1.3 CAPITAL CALCULATION... 3 1.1.1 Use
Julian Hodge Bank Limited. Pillar 3 disclosures as at 31 October 2012
as at 31 October 2012 Approved by the Board on 26 March 2013 Contents 1 2 3 4 5 6 7 8 9 Introduction Scope Risk management objectives and policies Capital resources Capital adequacy Credit risk Interest
Prudential Practice Guide
Prudential Practice Guide LPG 232 Business Continuity Management March 2007 www.apra.gov.au Australian Prudential Regulation Authority Disclaimer and copyright This prudential practice guide is not legal
GUIDELINES FOR THE MANAGEMENT OF OPERATIONAL RISK
SUPERVISORY AND REGULATORY GUIDELINES: PU-0412 Operational Risk 25 th November, 2013 GUIDELINES FOR THE MANAGEMENT OF OPERATIONAL RISK 1. INTRODUCTION 1.1. The Central Bank of The Bahamas ( the Central
Technology and Cyber Resilience Benchmarking Report 2012. December 2013
Technology and Cyber Resilience Benchmarking Report 2012 December 2013 1 Foreword by Andrew Gracie Executive Director, Special Resolution Unit, Bank of England On behalf of the UK Financial Authorities
Chris Moulder Director, General Insurance Prudential Regulation Authority T 020 3461 7885 chris.moulder@bankofengland.co.uk.
Chris Moulder Director, General Insurance Prudential Regulation Authority T 020 3461 7885 chris.moulder@bankofengland.co.uk 25 April 2016 Letter sent to CEOs of participating firms Dear CEO General Insurance
Operational Risk. The new FSA requirements. Contents. February 2004
Operational Risk The new FSA requirements February 2004 Contents Purpose Definition of OR by FSA Factors to take into account Business functions within a company with individual OR plans for their function
Subject ST9 Enterprise Risk Management Syllabus
Subject ST9 Enterprise Risk Management Syllabus for the 2015 exams 1 June 2014 Aim The aim of the Enterprise Risk Management (ERM) Specialist Technical subject is to instil in successful candidates the
Risk Management. Trends for Insurance Companies. Jeffrey Lovern Genworth Financial VP, Enterprise Risk Management Global Mortgage Insurance
Risk Management Trends for Insurance Companies Jeffrey Lovern Genworth Financial VP, Enterprise Risk Management Global Mortgage Insurance Global Association of Risk Professionals March, 2014 Agenda Global
Capital Market Services UK Limited Pillar 3 Disclosure
February 2013 Capital Market Services UK Limited Pillar 3 Disclosure Contents 1.0 Overview 2.0 Frequency and location of disclosure 3.0 Verification 4.0 Scope of application 5.1 Risk Management objectives
Capital Management Standard Banco Standard de Investimentos S/A
Capital Management Standard Banco Standard de Investimentos S/A Level: Entity Type: Capital Management Owner : Financial Director Approved by: Board of Directors and Brazilian Management Committee (Manco)
STRESS TESTING GUIDELINE
STRESS TESTING GUIDELINE JUIN 2012 Table of Contents Preamble... 2 Introduction... 3 Scope... 5 Coming into effect and updating... 6 1. Stress testing... 7 A. Concept... 7 B. Approaches underlying stress
RISK FACTORS AND RISK MANAGEMENT
Bangkok Bank Public Company Limited 044 RISK FACTORS AND RISK MANAGEMENT Bangkok Bank recognizes that effective risk management is fundamental to good banking practice. Accordingly, the Bank has established
DATA RECOVERY SOLUTIONS EXPERT DATA RECOVERY SOLUTIONS FOR ALL DATA LOSS SCENARIOS.
Regulatory and Economic Capital
Regulatory and Economic Capital Measurement and Management Swati Agiwal November 18, 2011 What is Economic Capital? Capital available to the bank to absorb losses to stay solvent Probability Unexpected
Risk, Risk Assessments and Risk Management. Christopher Bowler CPA, CISA August 10, 2015
+ Risk, Risk Assessments and Risk Management Christopher Bowler CPA, CISA August 10, 2015 + Agenda A Few Thoughts Fundamentals of Risk Assessments Fundamentals of Risk Management Assessments vs. Management
LIQUIDITY RISK MANAGEMENT GUIDELINE
LIQUIDITY RISK MANAGEMENT GUIDELINE April 2009 Table of Contents Preamble... 3 Introduction... 4 Scope... 5 Coming into effect and updating... 6 1. Liquidity risk... 7 2. Sound and prudent liquidity risk
Section A: Introduction, Definitions and Principles of Infrastructure Resilience
Section A: Introduction, Definitions and Principles of Infrastructure Resilience A1. This section introduces infrastructure resilience, sets out the background and provides definitions. Introduction Purpose
Managing Risk at Bank of America Corporation. Overview
Managing Risk at Bank of America Corporation Overview Risk is inherent in every material business activity that we undertake. Our business exposes us to strategic, credit, market, liquidity, compliance,
Adequacy of risk management systems of responsible entities
REPORT 298 Adequacy of risk management systems of responsible entities September 2012 About this report This report discusses the key findings of a proactive ASIC review of risk management systems of selected
Liquidity Stress Testing
Liquidity Stress Testing Scenario modelling in a globally operating bank APRA Liquidity Risk Management Conference Sydney, 3-4 May 2007 Andrew Martin Head of Funding & Liquidity Risk Management, Asia/Pacific
GUIDELINES ON CORPORATE GOVERNANCE FOR LABUAN BANKS
GUIDELINES ON CORPORATE GOVERNANCE FOR LABUAN BANKS 1.0 Introduction 1.1 Good corporate governance practice improves safety and soundness through effective risk management and creates the ability to execute
Contingency Planning in ICSA Member Countries
Contingency Planning in ICSA Member Countries Australia In an effort to review and upgrade Australia s capacity to deal with threats to critical infrastructure, the government has formed a Trusted Information
Desktop Scenario Self Assessment Exercise Page 1
Page 1 Neil Jarvis Head of IT Security & IT Risk DHL Page 2 From reputation to data loss - how important is business continuity? Neil Jarvis Head of IT Security (EMEA) DHL Logistics IT Security Taking
Capital Requirements Directive Pillar 3 Disclosure. Western Asset Management Company Limited December 2008
Capital Requirements Directive Pillar 3 Disclosure Western Asset Management Company Limited December 2008 Background Under the 2006 Capital Requirements Directive ( CRD ), a revised regulatory framework
S t a n d a r d 4. 4 c. M a n a g e m e n t o f m a r k e t r i s k. Regulations and guidelines
S t a n d a r d 4. 4 c M a n a g e m e n t o f m a r k e t r i s k Regulations and guidelines H o w t o r e a d a s t a n d a r d A standard is a collection of subject-specific regulations and guidelines
OUTSOURCING INVOLVING SHARED COMPUTING SERVICES (INCLUDING CLOUD) 6 July 2015
OUTSOURCING INVOLVING SHARED COMPUTING SERVICES (INCLUDING CLOUD) 6 July 2015 Disclaimer and Copyright While APRA endeavours to ensure the quality of this publication, it does not accept any responsibility
PART B INTERNAL CAPITAL ADEQUACY ASSESSMENT PROCESS (ICAAP)
Framework (Basel II) Internal Capital Adequacy Assessment PART A OVERVIEW...2 1. Introduction...2 2. Applicability...3 3. Legal Provision...3 4. Effective Date of Implementation...3 5. Level of Application...3
Board Risk & Compliance Committee Charter
Board Risk & Compliance Charter 10 December 2015 PURPOSE 1) The purpose of the Westpac Banking Corporation (Westpac) Board Risk & Compliance () is to assist the Board of Westpac (Board) as the Board oversees
Annex 1. Business Continuity Management Policy
Annex 1 Business Continuity Management November 2008 p 2 Thanet District Council Business Continuity Management Contents Foreword...3...4 Definition of Terms...5 Document History...6 This policy is supported
Stress Testing in an Uncertain World
Stress Testing in an Uncertain World Anthony Bice & Garreth Sweeney Oliver Wyman This presentation has been prepared for the Actuaries Institute 2014 Financial Services Forum. The Institute Council wishes
OUTSOURCING REGULATIONS IN THE BANKING AND INSURANCE INDUSTRIES IN ASIA PACIFIC
OUTSOURCING REGULATIONS IN THE BANKING AND INSURANCE INDUSTRIES IN ASIA PACIFIC Bridging Borders Webinar Series 1 Welcome Welcome You are on mute A link to a recording of the webinar will be available
Toronto, Ontario Tuesday, June 9, 2009 CHECK AGAINST DELIVERY. For additional information contact:
Remarks by Superintendent Julie Dickson Office of the Superintendent of Financial Institutions Canada (OSFI) to the 2009 OSFI Risk Management Seminar for Life Insurance Companies Toronto, Ontario Tuesday,
CENTRAL BANK OF KENYA (CBK) PRUDENTIAL GUIDELINE ON BUSINESS CONTINUITY MANAGEMENT (BCM) FOR INSTITUTIONS LICENSED UNDER THE BANKING ACT
CENTRAL BANK OF KENYA (CBK) PRUDENTIAL GUIDELINE ON BUSINESS CONTINUITY MANAGEMENT (BCM) FOR INSTITUTIONS LICENSED UNDER THE BANKING ACT JANUARY 2008 GUIDELINE ON BUSINESS CONTINUITY GUIDELINE CBK/PG/14
ICAAP for Asset Managers: Risk Control Limited
ICAAP for Asset Managers: Risk Control Limited March 2015 Copyright Risk Control Limited 2015 1 Contents Risk Control Limited Overview Pillar II ICAAP: Overview Pillar II ICAAP: Step by Step What we can
Internal Loss Data A Regulator s Perspective
Internal Loss Data A Regulator s Perspective AON Operational Risk Symposium Harvey Crapp Australian Prudential Regulation Authority 17 April 2008 1 Agenda 1. Why Collect ILD 1. Tailored Insurance 2. Risk
Business Continuity Management Systems. Protecting for tomorrow by building resilience today
Business Continuity Management Systems Protecting for tomorrow by building resilience today Vital statistics 31% 40% of UK businesses have been affected by bad weather related transport problems, power
Overview TECHIS60851. Manage information security business resilience activities
Overview Information security business resilience encompasses business continuity and disaster recovery from information security threats. As well as addressing the consequences of a major security incident,
PAPER-6 PART-1 OF 5 CA A.RAFEQ, FCA
1 Chapter-4: Business Continuity Planning and Disaster Recovery Planning PAPER-6 PART-1 OF 5 CA A.RAFEQ, FCA Learning Objectives 2 To understand the concept of Business Continuity Management To understand
Board of Directors Meeting 12/04/2010. Operational Risk Management Charter
Board of Directors Meeting 12/04/2010 Document approved Operational Risk Management Charter Table of contents A. INTRODUCTION...3 I. Background...3 II. Purpose and Scope...3 III. Definitions...3 B. GOVERNANCE...4
KPMG Information Risk Management Business Continuity Management Peter McNally, KPMG Asia Pacific Leader for Business Continuity
INFORMATION RISK MANAGEMENT KPMG Information Risk Management Business Continuity Management Peter McNally, KPMG Asia Pacific Leader for Business Continuity ADVISORY Contents Agenda: Global trends and BCM
Integration of Risk Management and Internal Audit. Chartered Institute of Management Accountants, New Zealand
Integration of Risk Management and Internal Audit Chartered Institute of Management Accountants, New Zealand Contents Understanding the three lines of defense governance model What is Risk? Risk Management
RE: Genworth Response to Final Report of the Financial System Inquiry
Senior Advisor Financial System and Services Division The Treasury Langton Crescent Parkes ACT 2600 Level 26 101 Miller Street North Sydney NSW 2060 Australia Tel 1300 655 422 Fax 1300 662 228 genworth.com.au
DNB Liquidity Pillar 2 Supervision. Seminar Das neue SREP Konzept der Aufsicht Clemens Bonner (c.bonner@dnb.nl)
DNB Liquidity Pillar 2 Supervision Seminar Das neue SREP Konzept der Aufsicht Clemens Bonner (c.bonner@dnb.nl) Legal framework Act on Financial Supervision (Wft) Decree on Prudential Rules pursuant to
The PNC Financial Services Group, Inc. Business Continuity Program
The PNC Financial Services Group, Inc. Business Continuity Program subsidiaries) 1 Content Overview A. Introduction Page 3 B. Governance Model Page 4 C. Program Components Page 4 Business Impact Analysis
An Overview of Basel II s Pillar 2
An Overview of Basel II s Pillar 2 Seminar for Senior Bank Supervisors from Emerging Economies Washington, DC 23 October 2008 Elizabeth Roberts Director, FSI Topics to be covered Why does Pillar 2 exist?
Business Continuity Planning. Presentation and. Direction
Business Continuity Planning Presentation and Direction Thomas Bronack, president Data Center Assistance Group, Inc. 15180 20 th Avenue Whitestone, NY 11357 Phone: (718) 591-5553 Email: bronackt@dcag.com
1) What kind of risk on settlements is covered by 'Herstatt Risk' for which BCBS was formed?
1) What kind of risk on settlements is covered by 'Herstatt Risk' for which BCBS was formed? a) Exchange rate risk b) Time difference risk c) Interest rate risk d) None 2) Which of the following is not
Information Technology
Information Technology Information Technology Session Structure Board of director actions Significant and emerging IT risks Practical questions Resources Compensating Controls at the Directorate Level
Terms of Reference - Board Risk Committee
Terms of Reference - Board Risk Committee The Board Risk Committee is authorised by the Board to oversee the Group s risk management arrangements. It ensures that the overarching risk appetite is appropriate
Business Continuity Management
Prudential Standard CPS 232 Business Continuity Management Objective and key requirements of this Prudential Standard The ultimate responsibility for the business continuity of an APRA-regulated institution
Airmic review of the supply chain insurance market Review of recent developments in the supply chain insurance market
REPORT Airmic review of the supply chain insurance market Review of recent developments in the supply chain insurance market 1. Executive summary Increasingly complex supply chains, together with greater
PART A: OVERVIEW...1 1. Introduction...1. 2. Applicability...2. 3. Legal Provisions...2. 4. Effective Date...2
PART A: OVERVIEW...1 1. Introduction...1 2. Applicability...2 3. Legal Provisions...2 4. Effective Date...2 PART B: INTERNAL CAPITAL ADEQUACY ASSESSMENT PROCESS...3 5. Overview of ICAAP...3 6. Board and
Appendix 2 - Leicester City Council s Business Continuity Management Policy Statement and Strategy 2015. Business Continuity Policy Statement 2015
Appendix 2 - Leicester City Council s Business Continuity Management Policy Statement and Strategy 2015 Business Continuity Policy Statement 2015 This Policy sets the direction for Business Continuity
Third party assurance services
TECHNOLOGY RISK SERVICES Third party assurance services Delivering assurance over your service providers The current third party service provider environment Corporate UK has been transformed in recent
Basel Committee on Banking Supervision. Net Stable Funding Ratio disclosure standards
Basel Committee on Banking Supervision Net Stable Funding Ratio disclosure standards June 2015 This publication is available on the BIS website (www.bis.org). Bank for International Settlements 2015. All
Operational Risk Management Table of Contents
Operational Management Table of Contents SECTION 1 Operational The Definition of Operational Drivers of Operational Management Governance Culture and Awareness Policies and Procedures SECTION 2 Operational
Proposed guidance for firms outsourcing to the cloud and other third-party IT services
Guidance consultation 15/6 Proposed guidance for firms outsourcing to the cloud and other third-party IT services November 2015 1. Introduction and consultation 1.1 The purpose of this draft guidance is
Capital adequacy ratios for banks - simplified explanation and
Page 1 of 9 Capital adequacy ratios for banks - simplified explanation and example of calculation Summary Capital adequacy ratios are a measure of the amount of a bank's capital expressed as a percentage
Supervisory Statement SS18/13. Recovery planning. December 2013. (Last updated 16 January 2015)
Supervisory Statement SS18/13 Recovery planning December 2013 (Last updated 16 January 2015) Prudential Regulation Authority 20 Moorgate London EC2R 6DA Prudential Regulation Authority, registered office:
Business Continuity Management
Prudential Standard CPS 232 Business Continuity Management Objective and key requirements of this Prudential Standard This Prudential Standard requires each APRA-regulated institution to implement a whole-of-business
NOVEMBER 2010 (REVISED)
CENTRAL BANK OF CYPRUS BANKING SUPERVISION AND REGULATION DIVISION DIRECTIVE TO BANKS ON THE COMPUTATION OF PRUDENTIAL LIQUIDITY IN ALL CURRENCIES NOVEMBER 2010 (REVISED) DIRECTIVE TO BANKS ON THE COMPUTATION
AGENDA ITEM: B2. RSSB Board Meeting Final: 08 May 2014 Page 1 of 3. November 2011
MEETING: RSSB Board Meeting DATE: 08 May 2014 SUBJECT: Cyber security SPONSORS: Anson Jack and Gareth Llewellyn AUTHORS: Tom Lee and Peter Gibbons 1. Purpose 1.1 This paper has been prepared jointly by
Regulatory Requirements for Disaster Recovery/Business Continuity Programs
Regulatory Requirements for Disaster Recovery/Business Continuity Programs Al Berman Business Continuity Planning Practice Post 9/11 Surge in Business Continuity Regulations and Standards Post 9-11 20
ICAAP Required Capital Assessment, Quantification & Allocation. Anand Borawake, VP, Risk Management, TD Bank anand.borawake@td.com
ICAAP Required Capital Assessment, Quantification & Allocation Anand Borawake, VP, Risk Management, TD Bank anand.borawake@td.com Table of Contents Key Takeaways - Value Add from the ICAAP The 3 Pillars
Appendix 1 - Leicester City Council s Business Continuity Management Strategy and Policy Statement - 2016
Appendix 1 - Leicester City Council s Business Continuity Management Strategy and Policy Statement - 2016 Policy Statement - 2016 This Policy sets the direction for Business Continuity Management at Leicester
Operational risk capital modelling. John Jarratt National Australia Bank
Operational risk capital modelling John Jarratt National Australia Bank Topics 1. Overview 2. Recent trends 3. Model features 4. Business challenges 5. Modelling challenges 6. Future directions 7. Useful
Business Continuity Management
Business Continuity Management Policy Statement & Strategy July 2009 Basildon District Council Business Continuity Management Policy Statement The Council is committed to ensuring robust and effective
Coping with a major business disruption. Some practical advice
Coping with a major business disruption Some practical advice Coping with a major business disruption What is business continuity? Business continuity planning (BCP) is a management process that helps
Information Governance Management Framework
Information Governance Management Framework Responsible Officer Author Business Planning & Resources Director Governance Manager Date effective from October 2015 Date last amended October 2015 Review date
Update from the Business Continuity Working Group
23 June 2014 Performance and Resources Board 19 To note Update from the Business Continuity Working Group Issue 1 The Business Continuity Working Group oversees the development, maintenance and improvement
CONSULTATION PAPER P016-2006 October 2006. Proposed Regulatory Framework on Mortgage Insurance Business
CONSULTATION PAPER P016-2006 October 2006 Proposed Regulatory Framework on Mortgage Insurance Business PREFACE 1 Mortgage insurance protects residential mortgage lenders against losses on mortgage loans
Prudential Practice Guide
Prudential Practice Guide SPG 232 Business Continuity Management July 2013 www.apra.gov.au Australian Prudential Regulation Authority Disclaimer and copyright This prudential practice guide is not legal
On-Site Examination Policy for Fiscal 2016. Examination Policy for Fiscal 2016" briefly reviews on-site examinations carried out in
March 29, 2016 Bank of Japan On-Site Examination Policy for Fiscal 2016 1. On-Site Examination by the Bank of Japan The Bank of Japan (hereinafter, the Bank) formulates the on-site examination policy every
Cyber Security Incident Response High-level Maturity Assessment Tool
Cyber Security Incident Response High-level Maturity Assessment Tool Introduction Overview Many organisations are extremely concerned about potential and actual cyber security attacks, both on their own
Construction Dispute Resolution Services. Bringing construction industry specialists to the heart of the dispute
Construction Dispute Resolution Services Bringing construction industry specialists to the heart of the dispute They delivered a team of people who could provide comprehensive support, covering all aspects
Solvency II Own risk and solvency assessment (ORSA)
Solvency II Own risk and solvency assessment (ORSA) Guidance notes MAY 2012 Contents Introduction Page Background 3 Purpose and Scope 3 Structure of guidance document 4 Key Principles and Lloyd s Minimum
The Role of Mortgage Insurance under the New Global Regulatory Frameworks
The Role of Mortgage Insurance under the New Global Regulatory Frameworks By Anna Whittingham Regulatory Analyst, Genworth Financial Mortgage Insurance Europe Summary and Overview The introduction of fundamental
FCA FACTSHEET. How the FCA will supervise firms
FCA FACTSHEET How the FCA will supervise firms The FCA will be the conduct supervisor for approximately 26,000 firms across all industry sectors and the prudential supervisor for approximately 23,000 firms
Cyber Risk Management
Cyber Risk Management A short guide to best practice Insight October 2014 So what exactly is 'cyber risk'? In essence, cyber risk means the risk connected to online activity and internet trading but also
Business Continuity Planning
Business Continuity Planning We believe all organisations recognise the importance of having a Business Continuity Plan, however we understand that it can be difficult to know where to start. That s why
Discussion Paper DP1/14: Ensuring operational continuity in resolution
6 January 2015 Daniel Okubo Operational Continuity DP Prudential Regulation Authority 20 Moorgate London EC2R 6DA By post and email to DP1_14@bankofengland.co.uk Discussion Paper DP1/14: Ensuring operational
Operational Risk Management Policy
Operational Risk Management Policy Operational Risk Definition A bank, including a development bank, is influenced by the developments of the external environment in which it is called to operate, as well
Risk Committee Charter
Risk Committee Charter St Andrew s Insurance (Australia) Pty Ltd St Andrew s Life Insurance Pty Ltd St Andrew s Australia Services Pty Ltd Scope The Risk Committee ( the Committee ) performs the functions
The Internal Capital Adequacy Assessment Process (ICAAP) and the Supervisory Review and Evaluation Process (SREP)
Supervisory Statement SS5/13 The Internal Capital Adequacy Assessment Process (ICAAP) and the Supervisory Review and Evaluation Process (SREP) December 2013 Prudential Regulation Authority 20 Moorgate
ORSA for Insurers A Global Concept
ORSA for Insurers A Global Concept Stuart Wason, FSA, FCIA, MAAA, CERA Senior Director, Actuarial Division Office of the Superintendent of Financial Institutions Canada (OSFI) Table of Contents Early developments
FlyntGroup.com. Enterprise Risk Management and Business Impact Analysis: Understanding, Treating and Monitoring Risk
Enterprise Risk Management and Business Impact Analysis: Understanding, Treating and Monitoring Risk 2012 The Flynt Group, Inc., All Rights Reserved FlyntGroup.com Enterprise Risk Management and Business