In this issue
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“Challenges beyond the regulatory reforms: capital standards, stress testing and risk management”
The European Commission has devised a plan for enhancing European financial supervision and for monitoring the banking, insurance and securities markets, where new authorities will have the power to draft and enforce a single set of EU-wide rules. Although this has obvious advantages in terms of sharing administration and expertise and avoiding unnecessary overlaps in supervisory tasks, we have yet to see whether the implementation of such a plan will be as straightforward as it sounds. Banking & Finance therefore decided to ask a well-seasoned Basel Committee veteran to share his views.
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“Outlook of Regulatory Framework Reforms”
Prompted by the recent financial crisis, changes to the international banking and regulatory landscape have been introduced that will significantly impact the future of the financial sector and the economy. The latest initiatives for regulatory reform at EU level will not only change the structure of the financial markets and the face of European and global banking, but will also create many new challenges.
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“Risk Management Governance”
The independence of the risk functions from commercial pressure is a key element for ensuring their effectiveness. However, various views exist about how to best implement a risk governance structure and the role of the risk manager. One such view, although sometimes regarded as being simplistic, uses the ‘three lines of defence’ model to achieve tangible results.
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“Scenario Analysis: the basis for a holistic approach to risk management”
This topic was explained by two speakers at the Congress. The first speaker (Hubert Brogniez from Finalyse) presented a general overview of risk management in terms of risk culture scenarios and practices. The second speaker (Michel Philippens from SAS) then briefly outlined a typical case study for capital planning: one of the most strategic applications of scenario management in financial institutions.
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“The Impact of the New European Supervisory Framework on Risk Management”
The changes recently been made to the European framework for supervising the banking and financial sectors are quite extensive, but just how will they affect banking and financial operators at national and European level? To answer this question, Banking & Finance magazine decided to consult an acknowledged expert in this field in order to receive a first-hand account of the extent and implications of recent changes to European law.
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“The Security Target Operating Model in Retail Banking”
This topic was explained by two speakers at the Congress. The first speaker (Philippe Duhamel from BNP Paribas Fortis) described the objectives of the initial Identity & Access Management model. The second speaker (Catarina de Sa Nogueira from Kurt Salmon) then outlined the migration to a joint project between BNP Paribas Fortis and Kurt Salmon referred to as the Security Target Operating Model.
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“The Value of Smarter Credit Risk”
Every bank executive knows that meeting tougher risk regulations is a costly necessity. However, the right approach to ordering and leveraging investments can also provide far-reaching business benefits, including higher revenues and profits.
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Everyone Entrepreneur
New regulations issued by local or international regulators, increasing competition in the retail and private banking business,decreasing margins as a result of lower risk appetite… This is merely a subset of the changes that the fi nancial industry has seen over the last couple of years. All these challenges must be addressed to avoid further impact on shareholder value. Projective ensures that these projects and programs are delivered in time and within budget.
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Foreign Account Tax and Compliance Act
On 18 March 2010, the US Congress passed the Foreign Account Tax and Compliance Act (FATCA) as part of its Hiring Incentives to Restore Employment Act (HIRE Act). FATCA’s provisions, incorporated into Chapter 4 of the US Internal Revenue Code, have been enacted with a clear goal: to prevent tax evasion by US persons using foreign investments or foreign accounts to conceal their assets and avoid paying US tax.
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Fortinet worldwide leader in Unified Threat Management
Fortinet’s vision has always been to develop comprehensive security to corporate networks, through a single platform, which offers simplicity, streamlined installation and management, while offering at the same time the ability to update all the security functions concurrently. Fortinet has pursued that vision of Unified Threat Management (UMT) for the last 10 years and has become the leading provider of network security applications.
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Shared Payment Infrastructure, a questioning approach
In recent times, we often come across the terms ‘Shared Payments Infrastructure’, ‘Payment Hub’, ‘Payment Services Hub’, ‘Integrated Payment Hub’, ‘Universal Payments Capability’ and so on. While the names are many, they convey more or less the same idea i.e. an integrated system, which can cater to payments processing needs across all origination channels, execution channels, customer types, instrument types and transaction types.
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The role of Security within Social Networks
Last week researchers unveiled a “dating database” consisting of 250,000 users. This was not just any ordinary dating site where one registers to and agrees to post their information. Rather, the dating profiles were based on public information that the researchers gathered from Facebook profiles. Many people at this point cried out “Privacy!”.
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