Operational Risk

    News on frameworks, regulations, and major events related to risks arising from internal processes, systems failures, human errors, or external disruptions.

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    Operational Risk

    BSP Issues New Operational Resilience Requirements for FIs  

    By Sanday Chongo Kabange | 07/11/2024

    Larger FIs have two years to develop and integrate operational resilience frameworks into their governance structures and risk management processes.

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    Operational Risk

    FCA Issues Guidance on Preparing for CrowdStrike-Style Outages

    By Manesh Samtani | 05/11/2024

    The FCA offers guidance on compliance with its operational resilience rules by 31 March 2025, drawing lessons from the response to CrowdStrike’s July outage.

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    Operational Risk

    ANZ Announces Organisational Changes to Streamline Operations

    By Thisanka Siripala | 05/11/2024

    ANZ CEO Shayne Elliot said the changes will provide “clearer accountabilities for operations” and will drive “consistency and predictability.”

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    Operational Risk

    Two of Korea’s Largest Financial Groups Facing Regulatory Scrutiny

    By Editors | 05/11/2024

    The FSS is scrutinising KB Financial Group for its poor management of its Indonesia business, and Woori over organisational culture issues.

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    KYC & CDD

    S&P Global Market Intelligence’s Wins Best Due Diligence & Third-Party Risk Solution

    By Editors | 04/11/2024

    S&P Global Market Intelligence’s KY3P (Know Your Third Party) platform has been honoured with the Best Due Diligence & Third-Party Risk Solution award at the 7th Regulation Asia Awards for Excellence 2024

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    Structural Regulation

    HKAB Receives High Commendation as Industry Association at 2024 Regulation Asia Awards

    By Editors | 04/11/2024

    HKAB was Highly Commended in the Industry Association of the Year category at the 7th Regulation Asia Awards for Excellence 2024.

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    AI Risk & Governance

    Accenture Named Banking Advisory Firm of the Year at 2024 Regulation Asia Awards

    By Editors | 04/11/2024

    Accenture was awarded the Banking Advisory Firm of the Year at the 7th Regulation Asia Awards for Excellence 2024.

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    Cloud & Infrastructure

    Wolters Kluwer OneSumX Get High Commendation at 2024 Regulation Asia Awards

    By Editors | 04/11/2024

    Wolters Kluwer OneSumX was Highly Commended in the Regulatory Reporting Solution award at the 7th Regulation Asia Awards for Excellence 2024

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    Operational Risk

    OJK Issues New Regulation on Bank Financial Reporting

    By Editors | 01/11/2024

    Banks have 3 months to implement financial reporting controls and 6 months to assign responsibility for preventing fraud or manipulation in financial reports.

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    Capital Adequacy

    APRA Imposes Capital Charge on Pacific International Insurance

    By Editors | 01/11/2024

    APRA said it found oversight and control deficiencies in the insurer’s binder holder business and risk management framework.

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