Download or read book Conduct Risk Management written by Roger Miles and published by Kogan Page Publishers. This book was released on 2017-01-03 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conduct risk is at the core of behavioural regulation, a new approach to regulating financial services, whose new agencies and public prosecutors have spread rapidly across the world. Its prosecutors intervene assertively to challenge financial service providers to show clear evidence of a new customer-centric approach, which understands and responds to the hidden drivers of customer behaviour. They use their unprecedented powers to levy very large fines and even to imprison wrongdoers - often for not taking precautions rather than for any active wrongdoing. Conduct Risk Management is a tool for recognizing, acting on, and predicting conduct risk impacts in regulated business. Conduct Risk Management sees beyond econometric and other 'box-ticking' traditions of risk management. Whilst protecting senior managers, it helps all staff to make positive use of conduct risk to promote behaviour the regulator will accept as 'good', as good behaviour is good business. The new conduct regulations personally affect every manager in financial services, and their suppliers, with new regulations making senior managers liable to imprisonment for failures in organizational conduct. Conduct Risk Management sets out plainly what practitioners need to know to understand the regulator's intentions, to prove compliance, protect competitiveness and maintain licence to operate.

Download or read book Conduct Risk Management written by Roger Miles and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get the practical tools you need to understand the hidden drivers of behaviour, de-bias your customer offering and avoid fines and imprisonment under the conduct regime.

Download or read book People Risk Management written by Keith Blacker and published by Kogan Page Publishers. This book was released on 2015-04-03 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: People Risk Management provides unique depth to a topic that has garnered intense interest in recent years. Based on the latest thinking in corporate governance, behavioural economics, human resources and operational risk, people risk can be defined as the risk that people do not follow the organization's procedures, practices and/or rules, thus deviating from expected behaviour in a way that could damage the business's performance and reputation. From fraud to bad business decisions, illegal activity to lax corporate governance, people risk - often called conduct risk - presents a growing challenge in today's complex, dispersed business organizations. Framed by corporate events and challenges and including case studies from the LIBOR rate scandal, the BP oil spill, Lehman Brothers, Royal Bank of Scotland and Enron, People Risk Management provides best-practice guidance to managing risks associated with the behaviour of both employees and those outside a company. It offers practical tools, real-world examples, solutions and insights into how to implement an effective people risk management framework within an organization.

Download or read book Essentials of Risk Management in Finance written by Anthony Tarantino and published by John Wiley & Sons. This book was released on 2010-12-01 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: A concise and and easy to follow introduction to financial risk management This basic survey text offers an accessible introduction to financial risk management, covered in its major components: credit, market, operational, liquidity, legal, and reputational, along with user-friendly processes and tools to conduct your own risk assessments and risk alignments. While there are some mathematical concepts included, these are kept at levels everyone will find easy to grasp. Provides a comprehensive overview of financial risk management, including credit, market, operational, liquidity, legal, and reputational risk areas Discusses the latest trends and next generation techniques emerging in financial risk management Provides risk assessment and risk alignment tools and examples This book offers a good basic understanding of the major areas of risk exposure that all organizations, both public and private, face in operating in today's complex global marketplace. It provides insights into best practices and next generation techniques for readers entering government, not-for-profit, business, and IT positions in which risk management will play an ever expanding role.

Download or read book Managing Risk in Organizations written by J. Davidson Frame and published by John Wiley & Sons. This book was released on 2003-08-05 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing Risk in Organizations offers a proven framework for handling risks across all types of organizations. In this comprehensive resource, David Frame—a leading expert in risk management—examines the risks routinely encountered in business, offers prescriptions to assess the effects of various risks, and shows how to develop effective strategies to cope with risks. In addition, the book is filled with practical tools and techniques used by professional risk practitioners that can be readily applied by project managers, financial managers, and any manager or consultant who deals with risk within an organization. Managing Risk in Organizations is filled with illustrative case studies and Outlines the various types of risk—pure, operational, project, technical, business, and political Reveals what risk management can and cannot accomplish Shows how to organize risk management efforts to conduct risk assessments, manage crises, and recover from disasters Includes a systematic risk management processrisk management planning, risk identification, qualitative impact analysis, quantitative impact analysis, risk response planning, and monitoring control Provides quantitative and qualitative tools to identify and handle risks This much-needed book will enable organizations to take risk seriously and act proactively.

Download or read book Non financial Risk Management in the Financial Industry written by Norbert Gittfried and published by Frankfurt School Verlag. This book was released on 2022-04-13 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing environment, social and governance (ESG) risk, compliance risk and non-financial risk (NFR) has become increasingly critical for businesses in the financial services industry. Furthermore, expectations by regulators are ever more demanding, while monetary sanctions are being scaled up. Accordingly, ESG, Compliance and NFR risk management requires sophistication in various aspects of a risk management system. This handbook analyses a major success factor necessary for meeting the requirements of modern risk management: an institution-specific target operating model (TOM) – integrating strategy, governance & organisation, risk management, data architecture and cultural elements to ensure maximum effectiveness. Also, institutions need to master the digital transformation for their business model to be sufficiently sustainable for the years to come. This book will offer ways on how to achieve just that. The book has been written by senior ESG, Compliance and NFR experts from key markets in Europe, the U.S. and Asia. It gives practitioners the necessary guidance to master the challenges in today's global risk environment. Each chapter covers key regulatory requirements, major implementation challenges as well as both practical solutions and examples.

Download or read book Risk Assessment in the Federal Government written by National Research Council and published by National Academies Press. This book was released on 1983-02-01 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: The regulation of potentially hazardous substances has become a controversial issue. This volume evaluates past efforts to develop and use risk assessment guidelines, reviews the experience of regulatory agencies with different administrative arrangements for risk assessment, and evaluates various proposals to modify procedures. The book's conclusions and recommendations can be applied across the entire field of environmental health.

Download or read book Bow Ties in Risk Management written by CCPS (Center for Chemical Process Safety) and published by John Wiley & Sons. This book was released on 2018-10-09 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: AN AUTHORITATIVE GUIDE THAT EXPLAINS THE EFFECTIVENESS AND IMPLEMENTATION OF BOW TIE ANALYSIS, A QUALITATIVE RISK ASSESSMENT AND BARRIER MANAGEMENT METHODOLOGY From a collaborative effort of the Center for Chemical Process Safety (CCPS) and the Energy Institute (EI) comes an invaluable book that puts the focus on a specific qualitative risk management methodology – bow tie barrier analysis. The book contains practical advice for conducting an effective bow tie analysis and offers guidance for creating bow tie diagrams for process safety and risk management. Bow Ties in Risk Management clearly shows how bow tie analysis and diagrams fit into an overall process safety and risk management framework. Implementing the methods outlined in this book will improve the quality of bow tie analysis and bow tie diagrams across an organization and the industry. This important guide: Explains the proven concept of bow tie barrier analysis for the preventing and mitigation of incident pathways, especially related to major accidents Shows how to avoid common pitfalls and is filled with real-world examples Explains the practical application of the bow tie method throughout an organization Reveals how to treat human and organizational factors in a sound and practical manner Includes additional material available online Although this book is written primarily for anyone involved with or responsible for managing process safety risks, this book is applicable to anyone using bow tie risk management practices in other safety and environmental or Enterprise Risk Management applications. It is designed for a wide audience, from beginners with little to no background in barrier management, to experienced professionals who may already be familiar with bow ties, their elements, the methodology, and their relation to risk management. The missions of both the CCPS and EI include developing and disseminating knowledge, skills, and good practices to protect people, property and the environment by bringing the best knowledge and practices to industry, academia, governments and the public around the world through collective wisdom, tools, training and expertise. The CCPS has been at the forefront of documenting and sharing important process safety risk assessment methodologies for more than 30 years. The EI's Technical Work Program addresses the depth and breadth of the energy sector, from fuels and fuels distribution to health and safety, sustainability and the environment. The EI program provides cost-effective, value-adding knowledge on key current and future international issues affecting those in the energy sector.

Download or read book Financial Risk Management written by Frantz Maurer and published by John Wiley & Sons. This book was released on 2024-01-23 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Protect your organization against financial misconduct In Financial Risk Management: From Metrics to Human Conduct, Frantz Maurer delivers a thorough and practical review of the core methods used by professionals in the real world to reduce the risk of financial misconduct. Starting with the key points of banking regulation, the author then describes in simple terms the most extensively used risk metrics in the banking industry. Readers can fully grasp and implement the techniques discussed within without a strong background in probabilities or statistics. The last part of the book focuses on conduct risk markers and show how to implement a conduct risk index that benchmarks the conduct of natural risk-takers like traders. The author describes how to marry this simple approach to financial risk with a conduct risk index that benchmarks the conduct of natural risk-takers, like traders. Readers will also find: Step-by-step guidance on how to apply common risk indicators to real-world situations Actionable advice for improving the resilience of financial institutions against individual misconduct and misbehavior A holistic and non-quantitative approach to a subject of critical importance, Financial Risk Management: From Metrics to Human Conduct will earn a place in the libraries of risk managers, compliance professionals, and master's level students in business administration and finance.

Download or read book Legal and Conduct Risk in the Financial Markets written by Roger McCormick and published by Oxford University Press, USA. This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This third edition on legal risk has been expanded to include much new material specifically on conduct risk. It has been updated to take into account developments in the law and professional standards concerning such risks and associated values in the context of the financial markets. Significant (and in some cases, endemic) conduct-related scandals, such as the widespread mis-selling of financial products and LIBOR manipulation, exposed by the financial crisis, have resulted in legal and regulatory change in equal measure (and profound effect) to that of the prudential and financial stability concerns captured in the second edition.

Download or read book Culture Audit in Financial Services written by Roger Miles and published by Kogan Page Publishers. This book was released on 2021-06-03 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the next wave of conduct regulation in financial markets, from 2021 conduct regulators in the UK and elsewhere expect firms to produce evidence on how they are improving behaviour and culture. Facing this, many practitioners are anxious that their current reporting and management information (MI) are irrelevant to meeting as-yet unclear regulatory expectations. This book provides the insights and tools firms need to report on culture, securing both enhanced business value and the regulator's approval. Culture is now seen as a key contributor to good governance, feeding into existing discourse on environmental, social and governance (ESG) factors and the emerging dialogue on 'non-financial (mis)conduct', but conventional measures of business quality are unfit for the new reporting agenda. Culture Audit in Financial Services follows the arc of 'behavioural regulation' to examine what the regulator really wants, before offering guidance on how culture audit differs from conventional auditing, how to put the latest pure-research findings to work, and the key features of well-designed conduct and culture reports. Written by an impartial author and a variety of contributors with extensive experience working with practitioners, regulators, and many of the world's finest academic initiatives, this book is filled with practical, grounded advice on how best to approach this new challenge and avoid infractions.

Download or read book Enterprise Risk Management 2nd Edition written by David L Olson and published by World Scientific Publishing Company. This book was released on 2015-01-21 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk is inherent in business. Without risk, there would be no motivation to conduct business. But a key principle is that organizations should accept risks that they are competent enough to deal with, and “outsource” other risks to those who are more competent to deal with them (such as insurance companies). Enterprise Risk Management (2nd Edition) approaches enterprise risk management from the perspectives of accounting, supply chains, and disaster management, in addition to the core perspective of finance. While the first edition included the perspective of information systems, the second edition views this as part of supply chain management or else focused on technological specifics. It discusses analytical tools available to assess risk, such as balanced scorecards, risk matrices, multiple criteria analysis, simulation, data envelopment analysis, and financial risk measures.

Download or read book Conduct Risk written by Lee Werrell and published by CreateSpace. This book was released on 2014-12-05 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aftermath of the financial disaster of 2008 sparked significant adjustments to the approach taken toward financial services regulation all over the world. Even though the immediate priorities involved stabilising and repairing firms' balance sheets and implementing liquidity and capital reforms, the regulators' attention and resources are currently centred around the behaviour of firms and exactly how they conduct their business.Although managing risks has accelerated, mitigating conduct risk has become one of the highest priorities for regulators worldwide, a universally agreed concise explanation conduct risk does not, as yet, exist.Perhaps Conduct Risk should be re-badged as "Culture Risk", as it may be better understood by all, except that culture would be even more far reaching and encompassing tradition, customs, ways of life and all these things that form the background for operations of the financial services world. Conduct Risk is what it says on the tin, concerning the conduct not only of individuals acting solely or in collusion, but also supervisors, middle and senior management and firms as a collective in the identification of customer's needs, providing real solutions, priced fairly and made available for all. Additionally firms need to be able to identify risk from products and practices that are on the regulatory radar such as forbearance in the mortgage market, product design and oversight in the asset management sector, or cross selling in full service or investment banking groups.The true measure of a successful conduct risk framework will be the risk-based assessment of the portfolio and scenario analysis, before adapting future product, service or distribution design and customer engagement strategies, taking action in relation to issues that arise before the regulators start to take notice.In response to changing regulatory expectations compliance and risk officers, as well as other senior managers at financial services firms are coming to terms with how to establish precisely what it means for their organisation and then to implement systems and controls to deal with the risks they have identified, including;* Vision and Strategy* Collaboration* Performance Management* Actions and Initiatives* Issue Management* PeopleThis book will show you What, Why and How as well as direction and regulatory consequences in the UK if you get it wrong.

Download or read book Risk Management and Corporate Governance written by Organization for Economic Cooperation and Development and published by OCDE. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This sixth peer review of the OECD Principles of Corporate Governance analyses the corporate governance framework and practices relating to corporate risk management, in the private sector and in state-owned enterprises. The review covers 26 jurisdictions and is based on a general survey of all participating jurisdictions in December 2012, as well as an in-depth review of corporate risk management in Norway, Singapore and Switzerland. The report finds that while risk-taking is a fundamental driving force in business and entrepreneurship, the cost of risk management failures is often underestimated, both externally and internally, including the cost in terms of management time needed to rectify the situation. The reports thus concludes that corporate governance should ensure that risks are understood, managed, and, when appropriate, communicated.

Download or read book Business Ethics and Risk Management written by Christoph Luetge and published by Springer Science & Business Media. This book was released on 2013-12-01 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores various aspects of risk taking. It offers an analysis of financial, entrepreneurial and social risks, as well as a discussion of the ethical implications of empirical findings. The main issues examined in the book are the financial crisis and its implications for business ethics. The book discusses unethical behaviour as a reputational risk (e.g., in the case of Goldman Sachs) and the question is raised as to what extent the financial crisis has changed the banks’ entrepreneurial strategy. The book presents an analysis of the reasons leading to the crisis and identifies them as ethical dilemma structures. In addition, it looks at general questions regarding ethical behaviour and risk taking, such as: To what extent does the social embeddedness or abstraction play a role in guaranteeing ethical behaviour? What conclusions can be drawn from institutional or evolutionary perspectives on risk management? Finally, the book discusses further issues that become factors of risk within and between societies, such as work insecurity, corruption or the problem of facilitation payments as a risk in international transactions.​

Download or read book Conduct and Accountability in Financial Services written by Stacey English and published by Bloomsbury Publishing. This book was released on 2018-11-23 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are you fully prepared for the implementation of the Senior Managers and Certification Regime across financial services firms and the related regulatory scrutiny on conduct and accountability? The 2008 financial crisis sparked major changes in global financial services regulation with attention and resources focused on the behaviour of firms and senior individuals and how they conduct their business. Regulatory reforms have been designed and implemented globally to address accountability and conduct in financial services. In the UK this has resulted in the Senior Managers and Certification Regime (SM&CR) being implemented across all FSMA-regulated firms. Conduct and Accountability in Financial Services: A Practical Guide provides comprehensive and expert guidance on how best to implement and comply with the SM&CR. In addition to acting as a guide to rule book requirements and regulatory expectations, it provides an in-depth look at the implications of the global focus on culture and conduct risk. A must-read text for all staff in UK financial services firms, professional associations, industry bodies, regulators, academics and advisers to financial services organisations, it covers: The context and regulatory basis for SM&CR including an overview of the development and roll-out of the regime Analysis of key changes from the previous 'approved person' approach Practical considerations for HR, internal audit and non-executive directors The increasing role of culture and conduct risk A practical overview of enforcement, penalties and learning lessons from enforcement actions Overarching principles of how to manage personal regulatory risk Regulatory relationship management The impact of technology An overview of related global developments Appendices with timeline, bibliography and a selection of other useful sources for senior managers Conduct and Accountability in Financial Services: A Practical Guide is on the syllabus reading list for the Regulation and Compliance exam offered by the Chartered Institute of Securities and Investments.

Download or read book Operational Risk Modeling in Financial Services written by Patrick Naim and published by John Wiley & Sons. This book was released on 2019-05-28 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transform your approach to oprisk modelling with a proven, non-statistical methodology Operational Risk Modeling in Financial Services provides risk professionals with a forward-looking approach to risk modelling, based on structured management judgement over obsolete statistical methods. Proven over a decade’s use in significant banks and financial services firms in Europe and the US, the Exposure, Occurrence, Impact (XOI) method of operational risk modelling played an instrumental role in reshaping their oprisk modelling approaches; in this book, the expert team that developed this methodology offers practical, in-depth guidance on XOI use and applications for a variety of major risks. The Basel Committee has dismissed statistical approaches to risk modelling, leaving regulators and practitioners searching for the next generation of oprisk quantification. The XOI method is ideally suited to fulfil this need, as a calculated, coordinated, consistent approach designed to bridge the gap between risk quantification and risk management. This book details the XOI framework and provides essential guidance for practitioners looking to change the oprisk modelling paradigm. Survey the range of current practices in operational risk analysis and modelling Track recent regulatory trends including capital modelling, stress testing and more Understand the XOI oprisk modelling method, and transition away from statistical approaches Apply XOI to major operational risks, such as disasters, fraud, conduct, legal and cyber risk The financial services industry is in dire need of a new standard — a proven, transformational approach to operational risk that eliminates or mitigates the common issues with traditional approaches. Operational Risk Modeling in Financial Services provides practical, real-world guidance toward a more reliable methodology, shifting the conversation toward the future with a new kind of oprisk modelling.