MAS conducted thematic inspections on the operational risk management standards and practices of selected banks, with a focus on third party risk management.
August 8, 2022The FSA published the principles to catalyse further development of model risk management practices in the industry and prevent risk.
November 23, 2021The Pandora Papers provide a stark reminder of the importance of having a robust risk assessment process in place for due diligence and source of wealth checks.
November 2, 2021The guidelines set out a data governance approach that encompasses five aspects, allowing for flexibility to cater to the specific nature of a bank’s operations.
October 4, 2021Drawing from landmark penalties in 2020, FINTRAIL’s Payal Patel and Sara Abbasi identify key lessons to help financial institutions guard against financial crime.
January 20, 2021We need real-time insights into cultural drivers of behaviour rather than backward-looking surveillance systems designed to catch bad actors after-the-fact.
September 18, 2020The 3LoD model and its proposed successor, the Three Lines Model, need to account for social and behavioural drivers of misconduct to achieve their potential.
September 4, 2020The new 'Three Lines Model' is aimed at improving organisational structure to achieve better alignment, collaboration, and accountability among key players.
July 27, 2020The HKMA has published its observations on the approaches used by major banks to manage climate risk, as guidance for the banking sector as a whole.
July 8, 2020The demands being imposed on the global banking system highlight the Achilles Heel of nonfinancial risk management and, particularly, misconduct risk, says Stephen Scott at Starling.
March 21, 2020