Risk Management Articles

Latest risk management articles to help you better understand the complex world of Risk management. If you would like to submit your articles of interest, do write to manoj.jain@riskpro.in and we will surely include your articles in this section.

Hackers targeting Indian banks with new tools

As quoted in media....

"Swati Bharadwaj-Chand, TNN | Jun 26, 2012, 07.41PM IST

After targeting financial institutions in Europe, hackers are now increasingly targeting Indian financial institutions with the latest variants of malware like SpyEye and Zeus.
HYDERABAD: After targeting financial institutions in Europe, hackers are now increasingly targeting Indian financial institutions with the latest variants of malware like SpyEye and Zeus to siphon larger amounts of money from bank accounts, Japanese security company Trend Micro has cautioned.

Basel III and beyond

So, we all know that Banking is going through its worst phase. Rogue traders across the best Banks are the highlights running through the web and the print. Losses are mounting, regulatory challenges responsible for how Banks are functioning today.

Derivative restrictions due to Volker rule is upsetting many organisation.

Yet, Basel continues in full glory. In the next 6 years, Banking will not be the same as it was in 2007.

Risk Governance gaining importance - Monetary Authority of Singapore

Monetary Authority of Singapore (MAS) has released a set of guidelines for Risk Governance for listed Boards. According to this report,

Role of Company Secretary in Risk Management

Company secretary roles are key roles in any organisation. As per ICSI, "Apart from statutory requirement enshrined in section 383A of the Companies Act, 1956 stipulating that every company with a paid- up share capital of Rs5 Crore or more is required to appoint a whole time Company Secretary, the Company Secretaryship qualification has been widely acclaimedby the Central and State Governments, Regulators and Corporates for the value added services provided by our members.

Focus Areas for Internal Audit

So, what should an internal audit of today focus on. What are likely to be key risk areas. KPMG's report titled "Focus Areas for Internal Audit" identifies the following as key areas that should be on radar of any good internal auditor.

  • Foreign Exchange Management
  • Cost Management
  • Capital Projects
  • Large Scale IT implementations
  • International Expansion/Entry Into Emerging Markets
  • Talent Management and Succession Planning
  • Mergers and Acquisitions (M&A)
  • Information Security/Data Privacy
  • Extended Enterprise/3rd Parties/Joint Ventures
  • Culture
  • Aligning Internal Audit with Risk Management

    In a recent survey by PWC titled "2012 State of the internal audit profession study", it was noted that the majority of the respondents said that their businesses face more risks
    than ever before. This is about 80% of the respondents expressing their concern on increasing risks and the inability to effectively manage them.

    Internal Audit is a key component of the Risk Management framework. Please do review the report from PWC by clicking on the link below. The report also helps users to align internal audit within the overall risk management framework.

    Citibank yet again fails Fed's Stress test: 'The Citi never awakens'

    "All but four of 19 major U.S. banks got a green light Tuesday from the Federal Reserve to boost their dividends and take other steps that will make their stocks more attractive to investors. The Fed declared them strong enough to survive a downturn worse than the Great Recession"

    "One notable exception was Citigroup, the nation's third-largest bank. It was among the companies the Fed said lacked enough capital to withstand another severe economic and financial crisis"

    Source: GARP - Read the full article

    ATM Frauds can get really innovative


    Recently we have heard one more fraudulent cases happening.

    If anyone ask you to take money from ATM saying that he is not familiar in taking money from ATM machine. Pl don’t do. It may be a stolen card and he is trying to trap you in the camera fixed in the ATM machine. On investigation you will be caught since you have taken the money.

    Lot of similar cases are being prosecuted in the court.

    Connecting the dots: How linking customers, products and pricing is the new mantra for survival

    It is a well known fact that companies need to address the needs of the customers. But many companies address this in a very isolated and a sketchy manner.

    Little do they realise that there has to be a holistic and structured approach to linking customer requirements, risk management, product developing, pricing and reputation risk management.

    Systemic Risk Is Not Event Driven, It Is Character Driven

    "Why does everybody start talking about systemic risk, after a crisis has already started? If we define a systemic risk event as something large enough to affect the entire global financial and economic system, then you would think that the best time for investors to be told about these terrible events is before they occur"

    There is a great article on Systemic risk and why these risks are not just one off comets in the sky that you dont know till you see them.


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