Industry News

Risk Management Industry News for FCA Regulated Businesses

Topics: Risk Management, Risk Assessment, FCA

Number of Skilled Persons Reports requested by FCA increases by 60%

Under the Financial Services and Markets Act, as amended by the 2012 Act, the FCA has the power to obtain a “skilled persons report” from a third party about aspects of a firm's activities where they have concerns about potential weaknesses or...

Read More

Topics: Risk Management, Risk Manager, incident management, Change Management

The Risk Manager's Guide to the Galaxy - Our vision for the new age of Risk Management

Our Risk Manager’s Guide to the Galaxy is a fresh perspective on how we see the future role of risk management and the proactive part it should play within the decision making process in an organisation.   

Our vision is about what Risk Management...

Read More

Topics: Risk Management, incident management, Financial Crime

New Financial Crime Risk and Reporting Considerations for 2017

The UK financial services sector is a prime target for criminal activities including fraud, theft, tax evasion, money laundering and counterfeiting.  The FCA has highlighted financial crime  as one of its key priority areas for 2017. “It is imperative...

Read More

Topics: Risk Management, incident management, risk visibility

Europe’s Top 10 Risks: New Allianz Risk Barometer Report 2017

The top ten risks were revealed yesterday in the 2017 Allianz Risk Barometer report, which surveys over 1200 risk professionals from 55 countries.

In Europe, the top 3 were Business Interruption, Market Developments (volatility, intensified...

Read More

Topics: Risk Management, incident management, risk visibility

People, Their Behaviour, Business Culture and Risk

At our recent Risk Management conference, we invited Cathy Hampson, author of “An Introduction to Behavioural Risk” to talk about her work and experience in looking at people’s behaviour as it relates to Operational Risk in Financial Services...

Read More

Topics: Risk Management, incident management, risk visibility

New attitude to risk reporting will benefit the financial services industry

The financial services industry is beginning to undergo a paradigm shift in its attitude to risk reporting which is long overdue, says Dr Robert Webb, associate professor of banking at Nottingham University Business School.

Companies are starting to...

Read More

Topics: Risk Management, FCA, KRI, customer complaints

As FCA reports a fall in customer complaints, how can customer KRI’s provide insight on operational risk

Customer complaints received by financial services organisations in the first half of this year were down 2.6% on the previous six months, according to the latest data published by the Financial Conduct Authority (FCA). The total number – 2.05m...

Read More

Topics: Risk Management, incident management, Key Risk Indicators

The Tesco Bank hack: are your incidents and KRI reporting systems up to scratch?

Did Tesco Bank miss tell-tale warning signs that it was being targeted for a major cyber-attack? According to a report in the Financial Times, some security experts believe the clues were there months before the weekend heist in which criminals stole...

Read More

Topics: Risk Management, RIsk Inisght

How Can Risk Management Information Be Made More Relevant to Senior Decision Makers?

This was a challenge that Kirsty Rutter was given and reflected on at the last Xactium Breakfast briefing. It was both an entertaining account of her roller coaster ride and an insightful view of how to go about undertaking such a task.

Read More