Operational risk

382 records

No records

Enhanced Cyber Risk Management Standards

FRB, FDIC and OCC consultation on enhanced standards for cybersecurity risk management

US Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency consultation on potential enhanced cybersecurity risk management and resilience standards to apply to large banks as well as to services provided by third parties to these firms. Standards would increase operational resilience and reduce impact on financial system in case of a cyber event experienced by one of these entities.

Publisher: National Regulators Release date: Oct 2016 Country: United States

Type: Consultative, discussion and issues paper

Topics: Operational risk, Risk management, Cyber risk

Sectors: Banking

Deadline for comments: Jan 2017

Singapore Payments Roadmap

MAS roadmap to promote electronic payments in Singapore

Monetary Authority of Singapore roadmap to promote electronic payments. Recommendations include: i) current regulatory regime governing payments and remittances be streamlined to create a single and modular regime that will be applied on an activity basis, rather than on specific payment systems; and ii) strengthening governance model and creating a national payments council that fosters innovation, competition and collaboration in the payments industry, including leveraging FinTech. Supports key ongoing infrastructure projects as having potential to transform payment landscape for recurring, retail and peer-to-peer payments, with the implementation of interoperable solutions. These include enabling more convenient payments through a centralized addressing system and creating a seamless consumer experience with unified point-of-sale payment terminals.

Publisher: National Regulators Release date: Aug 2016 Country: Singapore

Type: Consultative, discussion and issues paper

Topics: Financial inclusion, Operational risk, FinTech

Sectors: Banking

Guidance on Arrangements to Support Operational Continuity in Resolution

FSB guidance to ensure continuity of critical shared services

Financial Stability Board guideline sets out arrangements to ensure continuity of critical shared services, such as IT infrastructure and software-related services, which are necessary to maintain the provision of, or facilitate orderly wind down of, an institution's critical functions in resolution. Addressing these issues will help to remove impediments to cross-border resolution of failing financial institutions.

Publisher: Global Standard-Setting Bodies Release date: Aug 2016

Type: Guideline

Parent: Key Attributes of Effective Resolution Regimes for Financial Institutions

Peer: Principles for Cross-Border Effectiveness of Resolution Actions , Guidance on Cooperation and Information Sharing with Host Authorities Not Represented on CMGs, Guiding Principles on the Temporary Funding Needed to Support the Orderly Resolution of a G-SIB, Continuity of Access to Financial Market Infrastructures for a Firm in Resolution

Topics: Recovery and resolution, Systemically important financial institutions (SIFIs), Cross-border cooperation, Operational risk

Sectors: Banking

Cyber Risk in the Insurance Sector

IAIS issues paper discusses cyber risk and mitigation of risks

International Association of Insurance Supervisors issue paper discusses challenges presented by cyber risk, including current and contemplated supervisory approaches for addressing these risks. Provides background, describes current practices, identifies examples, and explores related regulatory and supervisory issues and challenges. Focuses on cyber risk to the insurance sector and the mitigation of such risks.

Publisher: Global Standard-Setting Bodies Release date: Aug 2016

Type: Consultative, discussion and issues paper

Topics: Operational risk, Risk management, Cyber risk

Sectors: Insurance

Guidelines on Outsourcing

Expanded guidelines on MAS expectations on outsourcing arrangements

Monetary Authority of Singapore guidelines provide expanded guidance on prudent risk management practices for outsourcing, including cloud-based services.

Publisher: National Regulators Release date: Jul 2016 Country: Singapore

Type: Guideline

Topics: Operational risk, Corporate governance

Sectors: Banking, Insurance, Securities

Guidance for Firms Outsourcing to the ‘Cloud’ and Other Third-party IT Services

FCA guideline clarifies requirements on firms that outsource IT functions

Financial Conduct Authority guidance for banks to oversee all aspects of the life cycle of outsourcing arrangements, from making decision to outsource, selecting an outsourcing provider, monitoring outsourced activities on an ongoing basis, andthrough to exit.

Publisher: National Regulators Release date: Jul 2016 Country: United Kingdom

Type: Guideline

Topics: Operational risk, Corporate governance

Sectors: Banking

Operational Risk Management

OSFI final guideline sets out expectations for operational risk management by banks and insurers

Office of the Superintendent of Financial Institutions of Canada guideline contains four key principles for effective operational risk management: i) fully integrate operational risk management within the overall risk management program; ii) use operational risk management to support the overall corporate governance structure, including developing an operational risk appetite statement; iii) ensure effective accountability for operational risk management; and iv) ensure comprehensive identification and assessment of operational risk through use of appropriate management tools that among other things provides a mechanism for collecting and communicating relevant operational risk information within the firm and to supervisory authorities.

Publisher: National Regulators Release date: Jun 2016 Country: Canada

Type: Guideline

Topics: Operational risk, Risk management, Corporate governance

Sectors: Banking, Insurance, Pensions

Cyber Security in Securities Markets

IOSCO consultation discusses regulatory approaches to cyber security and tools available to respond to cyber risk

International Organization of Securities Commissions discussion paper about regulatory approaches to cyber security. Covers key segments of securities markets, including issuers, trading venues, market intermediaries, asset managers and financial market infrastructures and addresses related regulatory issues, challenges and approaches. Also describes practices adopted by market participants. Report underscores issues and opportunities for cooperation and information sharing among market participants and regulators.

Publisher: Global Standard-Setting Bodies Release date: Apr 2016

Type: Consultative, discussion and issues paper

Topics: Operational risk, Risk management, Cyber risk

Sectors: Securities

Standardised Measurement Approach for Operational Risk

BCBS consultation proposes revisions to framework for operational risk

Basel Committee on Banking Supervision consultation sets out revisions to the proposed framework for operational risk. Specifically, it recommends removing the Advanced Measurement Approach (AMA) from the regulatory framework. Revised framework will be based on Standardized Measurement Approach (SMA), which is a single non-model-based approach to estimate operational risk capital.

Publisher: Global Standard-Setting Bodies Release date: Mar 2016

Type: Consultative, discussion and issues paper

Topics: Operational risk, Capital adequacy

Sectors: Banking

Deadline for comments: Jun 2016

RegTech in Financial Services

IIF report on technology solutions for compliance and reporting

Institute of International Finance study identifies areas in compliance and reporting functions where RegTech can have the largest benefits, including risk data aggregation, modelling and real-time transactions monitoring. Examines which new technologies are promising in tackling compliance challenges. Identifies barriers to adoption and development of RegTech, and suggests role for financial services industry, RegTech ventures and regulators and supervisors to promote use of RegTech.

Publisher: Others Release date: Mar 2016

Type: Consultative, discussion and issues paper

Topics: Financial inclusion, Financial market infrastructure, Operational risk, Compliance function, FinTech

Sectors: Banking

Display # Page 6 of 8 Total: 76

Start
Prev
1
2
3
4
5
6
7
8
Next
End

Resources

382 records

Enhanced Cyber Risk Management Standards

Singapore Payments Roadmap

Guidance on Arrangements to Support Operational Continuity in Resolution

Cyber Risk in the Insurance Sector

Guidelines on Outsourcing

Guidance for Firms Outsourcing to the ‘Cloud’ and Other Third-party IT Services

Operational Risk Management

Cyber Security in Securities Markets

Standardised Measurement Approach for Operational Risk

RegTech in Financial Services

Browse by Category

TC Notes

Sector

Topic

Country

Resource Type

Year Released

Publisher Type