Can the CFTC Execute on its Mission?
The CFTC is on a mission to migrate interest rate and credit derivatives to transparent marketplace, fulfilling a role that is similar to what the first SEC Commissioner Joseph Kennedy did in the 1930s...
View ArticleUsing Big Data to Combat Big Risk
How can financial institutions identify traders who are taking undue risks or investment salesmen who are fronting a Ponzi scheme? Andrew Waxman provides some insight.
View ArticleShaking Up the Risk Teams
With billions lost in 2012, the risk culture of investment banks needs to change, starting with accountability and clear expectations for behavior. Banks must also tear down the walls that exist...
View ArticleFunding the Bad Guys – Winning the AML Battle
Successfully preventing terrorist networks and drug traffickers from utilizing the financial system to launder money will require greater cooperation between banks and law enforcement.
View ArticleJP Morgan and Heuristics – Lessons from the Whale
JP Morgan's decisions in handling the London Whale incident can be traced to a series of cognitive biases and limitations, writes Andrew Waxman, who analyzes bank executives' responses based on the...
View ArticleMotivating Traders to Think Beyond Themselves
Banks need to make traders more aware of their inter-connectedness with the lives of the people who support them in control functions, so that they think twice about the risks they take on.
View Article3 Steps to Better Risk Management Through Organizational Design
Breaking down Information silos, closing the distance gap between managers and employees and avoiding the use of technical jargon are three ways to structure an effective risk organization.
View ArticleThe Pursuit of Happiness on Wall Street
Material rewards may not be the best way to improve employee satisfaction; helping employees fulfill their goals to lead engaged and interconnected lives will yield better results long-term.
View ArticleInsider Trading Scandal at KPMG: A Belief in the Weakness of Enforcers
Accounting firms should reinvigorate their training and controls regarding insider information because this is one area where enforcement works.
View ArticleSpreadsheet Risk – Should We Ban Excel?
Apparent errors in an influential economic study by two Harvard Professors due to an Excel spreadsheet mistake is another reminder of the operational risks inherent in relying upon formulae hidden in...
View ArticleWhere's the Next Bernie Madoff Hiding?
Wall Street isn't the only place the the next con man could be hiding; academia and other industries can also fall victim to data manipulation.
View ArticleBitcoin Joins the Academy of Other Financial Market Bubbles
While not as significant as bubbles in the housing market or Internet tech sector, the recent examples of bubbles in gold, Bitcoin and carbon are worth studying from a risk management perspective.
View ArticleCode Red: Implement Controls to Protect Firm Twitter Accounts
As we move headlong into a world driven by instantaneous news cycles, firms should take a step back to evaluate risks and set controls to prevent uncontrolled proliferation.
View ArticleIn Data Security Battle, Banks Need a Slingshot to Fight the Hackers
Large banks focused on securing firewalls find themselves outmatched by relatively tiny armies of hackers, writes Andrew Waxman of IBM's consulting practice.
View ArticleAre Banks on a Collision Course with Data Privacy Laws?
International banks and other global private entities need to ensure that they do more than pay lip service to the data privacy laws of sovereign states, writes Andrew Waxman of IBM's consulting practice.
View ArticleThe Bad Hiring Decision Is Worse Than None At All
Managers need to make sure they make good hiring decisions, or they risk long-term damage to their entire group.
View ArticleThe Discipline of Information Lifecycle Management
Banks need to build discipline around the information lifecycle and the process of deleting data that is no longer required from a legal or business standpoint.
View ArticleManaging Mobile Risk in the Cloud
Firms should assess their apps and data being exposed to the cloud for the level of security, privacy robustness, and frequency of development updates they require.
View ArticleThis is How Banks Need to Manage People Risk
Is your bank leveraging all the key tools of manager enablement: education, preparation, incentivization and data analytics to help minimize the risk of losing your best people?
View ArticleChief Data Officers: Organization Strategy & Cultural Change
Chief data officers are new to the financial services C-suite, but they are facing a number of challenges, including the need for new data governance and execution strategies, staffing, and new...
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