Operational risk

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The Future of Finance: The Rise of the New Shadow Bank

Goldman Sachs research report focuses on where shadow banks are likely to gain the strongest foothold

Goldman Sachs research report focuses on emergence of shadow banking across several key asset classes and the potential profit pools that could be captured by disruptors. Key findings: i) regulation will continue to shift activities from banks to non-banks; ii) technology is an enabler to entry; iii) there is a risk that an $11b annual profit will leave the banking system; and iv) emerging players will force the incumbents to change their competitive behaviour.

Publisher: Others Release date: Mar 2015

Type: Consultative, discussion and issues paper

Topics: Shadow banking, Financial inclusion, Operational risk

Sectors: Banking, Securities

Non-Banks in Retail Payments

CPMI report on the role of non-banks in retail payment services

Committee on Payments and Market Infrastructure report examines role of non-banks in retail payment services and analyzes implications of the growing importance of these entities in retail payments. Analyzes factors influencing: i) growing importance of non-banks; ii) main implications for efficiency of and risks in retail payment systems; and iii) diverse regulatory approaches for the different types of non-bank in various jurisdictions. Concludes with analysis of main issues and implications for central banks and other authorities.

Publisher: Global Standard-Setting Bodies Release date: Sep 2014

Type: Consultative, discussion and issues paper

Peer: Innovations in Retail Payments , Fast Payments - Enhancing the Speed and Availability of Retail Payments , Cross-Border Retail Payments

Topics: Financial market infrastructure, Financial inclusion, Consumer education and protection, Operational risk

Sectors: Banking, Securities

Cyber Security Self-Assessment Guidance

OSFI guidance for senior management to review cyber risk management policies

Office of the Superintendent of Financial Institutions of Canada self-assessment template setting out desirable properties to be considered by regulated firms when assessing the adequacy of their cyber security framework and when planning enhancements to their framework. Firms are encouraged to reflect the current state of cyber security practices in their assessments rather than their target state and consider cyber security practices on an enterprise-wide basis.

Publisher: National Regulators Release date: Oct 2013 Country: Canada

Type: Guideline

Topics: Operational risk, Risk management, Cyber risk

Sectors: Banking, Insurance, Pensions

Technology Risk Management Guidelines

MAS guidelines to promote sound practices and processes for managing technology

Monetary Authority of Singapore guidelines set out risk management principles and best practice standards to guide financial institutions to: i) establish a sound and robust technology risk management framework; ii) strengthen system security, reliability, resiliency, and recoverability; and iii) deploy strong authentication to protect consumer data, transactions and systems.

Release date: Jun 2013

Type: Guideline

Topics: Risk management, Operational risk, Cyber risk, Consumer education and protection

Sectors: Banking, Insurance

New Technology-Based Outsourcing Arrangements

OSFI expectations regarding IT outsourcing arrangements

Office of the Superintendent of Financial Institutions of Canada expectations for regulated firms that outsource information technology services. Guides design of an appropriate outsourcing risk management program. Expectations relate in particular to: i) confidentiality, security and separation of property; ii) contingency planning; iii) location of records; iv) access and audit rights; v) subcontracting; and vi) monitoring the material outsourcing arrangements.

Publisher: National Regulators Release date: Feb 2012 Country: Canada

Type: Sound Practice

Peer: Outsourcing of Business Activities, Functions and Processes

Topics: Risk management, Operational risk, Crisis management and contingency planning

Sectors: Banking, Insurance, Pensions

Principles for the Sound Management of Operational Risk

BCBS paper highlighting evolution of operational risk management since 2003

Basel Committee on Banking Supervision sound practice articulating principles from emerging industry practices and supervisory experience. Covers three overarching themes: i) governance; ii) risk management; and iii) disclosure. Supervisors expect banks to continuously improve their approaches to operational risk management. Addresses key elements of a bank’s framework. These elements should not be viewed in isolation but should be integrated components of the overall framework for managing operational risk across the enterprise.

Publisher: Global Standard-Setting Bodies Release date: Jun 2011

Type: Sound Practice

Topics: Operational risk, Corporate governance, Risk management

Sectors: Banking, Insurance

Outsourcing of Business Activities, Functions and Processes

OSFI guideline for outsourcing business activities to external providers

Office of the Superintendent of Financial Institutions of Canada guideline setting out expectations for regulated firms that outsource business activities to service providers. Firms are expected to: i) evaluate risks associated with existing and proposed outsourcing arrangements; ii) develop processes for determining materiality of arrangements; iii) implement programs for managing and monitoring risks, commensurate with materiality of arrangements; iv) ensure that boards of directors, chief agents or principal officers receive information sufficient to enable them to discharge their duties under the guideline and; v) refrain from outsourcing certain business activities to external auditors.

Publisher: National Regulators Release date: Feb 2009 Country: Canada

Type: Guideline

Peer: New Technology-Based Outsourcing Arrangements

Topics: Risk management, Operational risk

Sectors: Banking, Insurance, Pensions

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Resources

382 records

The Future of Finance: The Rise of the New Shadow Bank

Non-Banks in Retail Payments

Cyber Security Self-Assessment Guidance

Technology Risk Management Guidelines

New Technology-Based Outsourcing Arrangements

Principles for the Sound Management of Operational Risk

Outsourcing of Business Activities, Functions and Processes

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