Operational risk

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Draft Guidelines on Outsourcing to Cloud Service Providers

ESMA consultation on guidelines on identifying and addressing risks from outsourcing to cloud service providers

European Securities and Markets Authority draft guidelines provide guidance on the outsourcing requirements applicable to financial market participants when they outsource to cloud service providers. They aim to help firms and competent authorities identify, address and monitor the risks and challenges that arise from cloud outsourcing arrangements.

Publisher: Regional Standard-Setting Bodies Release date: Jul 2020

Type: Consultative, discussion and issues paper

Topics: Cyber risk, Operational risk, Risk management

Sectors: Securities

Pandemics and Financial Stability

Part 5 of TC webcast series

Toronto Centre webinar provides insights into what financial supervisors should be doing in a COVID-19 world, including activating their business continuity plans, setting new priorities, assessing risks, and monitoring corporate governance in supervised firms.

Publisher: Toronto Centre Release date: May 2020

Type: TC Videos

Topics: Crisis management and contingency planning, Consumer education and protection, Corporate governance, Operational risk

Sectors: Banking, Insurance, Microfinance, Microinsurance, Pensions, Securities

Pandemics and Financial Stability

Part 4 of TC webcast series

Toronto Centre webinar helps financial supervisors and regulators to gain insights and perspectives on COVID-19 and its impact on the global financial system.

Publisher: Toronto Centre Release date: Apr 2020

Type: TC Videos

Topics: Consumer education and protection, Operational risk, Crisis management and contingency planning

Sectors: Banking, Insurance, Microfinance, Microinsurance, Pensions, Securities

Pandemics and Financial Stability

Part 3 of TC webcast series

Toronto Centre webinar helps financial supervisors and regulators to gain insights and perspectives on COVID-19 and its impact on the global financial system.

Publisher: Toronto Centre Release date: Apr 2020

Type: TC Videos

Topics: Consumer education and protection, Operational risk, Crisis management and contingency planning

Sectors: Banking, Insurance, Microfinance, Microinsurance, Pensions, Securities

Pandemics and Financial Stability

Part 2 of TC webcast series

Toronto Centre webinar helps financial supervisors and regulators to gain insights and perspectives on COVID-19 and its impact on the global financial system.

Publisher: Toronto Centre Release date: Mar 2020

Type: TC Videos

Topics: Consumer education and protection, Operational risk, Crisis management and contingency planning

Sectors: Banking, Insurance, Microfinance, Pensions, Securities

Pandemics and Financial Stability

Part 1 of TC webcast series

Toronto Centre webinar helps financial supervisors and regulators to gain insights and perspectives on COVID-19 and its impact on the global financial system.

Publisher: Toronto Centre Release date: Mar 2020

Type: TC Videos

Topics: Consumer education and protection, Operational risk, Crisis management and contingency planning

Sectors: Banking, Insurance, Microfinance, Microinsurance, Pensions, Securities

The PRA's Methodologies for Setting Pillar 2 Capital

PRA policy statement on its Pillar 2 capital requirements

UK Prudential Regulatory Authority updated methodology for setting Pillar 2 capital requirements. Sets out methodologies to inform setting a firm’s Pillar 2A individual capital guidance for credit risk, market risk, operational risk, counterparty credit risk, credit concentration risk, and interest rate risk in the banking book and pension obligation risk. Pillar 2B provides information on the purpose of a PRA buffer, how it is determined and how it relates to the CRD IV buffers. Also provides details on PRA’s approach to tackling weak governance and risk management under Pillar 2B.

Publisher: National Regulators Release date: Feb 2020 Country: United Kingdom

Type: Supervisory Practice

Parent: Capital Requirements Directive - CRD IV, Capital Requirements - CRD IV/CRR – Frequently Asked Questions

Peer: Assessing Capital Adequacy Under Pillar 2

Topics: Capital adequacy, Credit risk, Market risk, Operational risk, Interest rate risk

Sectors: Banking

Issues Paper on the Use of Big Data Analytics in Insurance

IAIS paper focuses on issues related to use of personal and other data by insurers

International Association of Insurance Supervisors issues paper focuses on use of algorithms and advanced analytics capabilities by insurers to make decisions based on patterns, trends and linkages and the availability to insurers of new data sources, collectively referred to as "big data analytics" (BDA). Paper notes that increasing digitization provides tremendous opportunities for the insurance sector, but cautions that rapid innovation could unintentionally create risks of poor outcomes for policyholders and increased vulnerability for the sector as as whole. Supervisory must be vigilant of such risks.

Publisher: Global Standard-Setting Bodies Release date: Feb 2020

Type: Consultative, discussion and issues paper

Topics: Consumer education and protection, FinTech, Operational risk

Sectors: Insurance

How Reliant Are Banks and Insurers on Cloud Outsourcing?

Results of BoE survey to understand how banks and insurers use the cloud

Bank of England survey results show that banks and insurers mainly use cloud outsourcing to run software and access additional processing capacity or to support IT infrastructure. The survey indicates that banks use cloud outsourcing more widely than insurers.

Publisher: National Regulators Release date: Jan 2020 Country: United Kingdom

Type: Consultative, discussion and issues paper

Topics: Cyber risk, Operational risk

Sectors: Banking, Insurance

Proposed Revisions to the Credit Risk Management Framework for Authorised Deposit-taking Institutions

APRA updated prudential standard

Australian Prudential Regulation Authority updated prudential standard sets out operational risk requirements for banks.

Publisher: National Regulators Release date: Dec 2019 Country: Australia

Type: Consultative, discussion and issues paper

Topics: Credit risk, Operational risk

Sectors: Banking

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Resources

382 records

Draft Guidelines on Outsourcing to Cloud Service Providers

Pandemics and Financial Stability

Pandemics and Financial Stability

Pandemics and Financial Stability

Pandemics and Financial Stability

Pandemics and Financial Stability

The PRA's Methodologies for Setting Pillar 2 Capital

Issues Paper on the Use of Big Data Analytics in Insurance

How Reliant Are Banks and Insurers on Cloud Outsourcing?

Proposed Revisions to the Credit Risk Management Framework for Authorised Deposit-taking Institutions

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