Standardized approach (operational risk) Puns

Any idea where I’d get data for operational risk disclosure in the banking industry?

Doing it for a research topic is there a database that compiles this rather than going through loads of Annual statements?

Sorry should of mentioned that I’m a student, so would need to be a free or relatively inexpensive database access.

Probably the argument I have heard the most when it comes to the question of why Asian Americans do so well in many metrics (and notably I have heard this argument from people Left, Right, and Center) is that immigration policies in the 1960s-1990s basically meant that the only people immigrating to the US from China/Japan/Korea/India were people in medicine, high-tech fields, etc. And the argument goes that it is then just natural (by genetics and home atmosphere) that their kids are likewise more gifted and studious etc.

But I am not fully convinced that this argument can be used, because no one (outside of, say, the KKK, at least) is making the accompanying argument. If we are to say that Asians in the US are succeeding in a modern economy that values intellect/IQ because their was an intellect/IQ-favoring selective filter on which Asians could gain entry to the US in the first place, then it is notable that the accompanying argument when applied to African-Americans would be considered absurdly racist. Namely, one could theoretically argue using that exact same logic that in the 1600s until the 1860s there was a selective filter on which West Africans were brought to this land (first the Colonies, later the US) that favored physical strength/endurance, lower intellect, and lower personal independence.

Now I am not personally arguing that point about Black Americans, insofar as I am not personally trying to say “This would help explain why Black Americans nowadays earn less and score lower on standardized tests” etc.

My question though is why does the argument garner such easy popular support in this country whereas the exact same logical framework, when applied to the descendants of slaves, would be shouted out of any room as vile racism? And then the follow up is: if you reject that framework for explaining poor outcomes for Black people in the US, can you still coherently use it to explain superior outcomes for Asian people in the US?

>Recent events have highlighted the risks associated with investing in companies that are based in or that have the majority of their operations in the People’s Republic of China (China-based companies). The Division of Corporation Finance believes that more prominent, specific, and tailored disclosure about these risks, and companies’ use of the variable interest entity (VIE) structure specifically,[2] is warranted to provide investors with the information they need to make informed investment decisions and for companies to comply with their disclosure obligations under the federal securities laws. The Division previously provided its views regarding certain disclosure considerations for China-based companies,[3] and, in July 2021, Chair Gensler issued a Statement on Investor Protection Related to Recent Developments in China.[4] Among other things, the Chair’s statement noted that the People’s Republic of China (PRC or China) has provided new guidance to, and placed restrictions on, China-based companies raising capital outside of China.
>
>In light of these concerns, the Division is issuing comments to China-based companies seeking more specific and prominent disclosure about the legal and operational risks associated with China-based companies. The Division’s comments focus on the need for clear and prominent disclosure regarding the structure of the company, including the relationship between the entity conducting the offering and the entities conducting the operating activities, risks associated with a company’s use of the VIE structure, and the potential impact on the company’s operations and investors’ interests if such structure were disallowed or the contracts were determined to be unenforceable. The Division’s comments also focus on additional legal, regulatory, and enforcement risks that may apply to investments in China-based companies, such as the potential impact of the Holding Foreign Companies Accountable Act and related rules and any necessary PRC permissions a China-based company may need to operate its business or offer securities to foreign investors.[5]

[Source](https://www.sec.gov/corpfin/sample-letter-china-b

Notice

The Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency (collectively, the agencies), under the auspices of the Federal Financial Institutions Examination Council (FFIEC), are requesting comment on proposed revisions to clarify instructions for reporting of deferred tax assets consistent with a proposed rule on tax allocation agreements (see FIL-29-2021, dated April 22, 2021), and a new item related to the final rule on SA-CCR (see FIL-74-2019, dated December 2, 2019).

https://preview.redd.it/pdpew5a8lkd71.png?width=1575&format=png&auto=webp&s=f1cb0facd034df85d3c3dd30d5c9df3231299074

FFIEC 031

https://preview.redd.it/fk8im9awnkd71.png?width=737&format=png&auto=webp&s=4cd678a14ce66951bd7f644016443185cf5b6421

FFIEC 041

https://preview.redd.it/ylc4h0vwnkd71.png?width=712&format=png&auto=webp&s=ba51f043ecc57c586fa9c1f922b6ff00cd877028

FFIEC 051

https://preview.redd.it/z5v9ofdxnkd71.png?width=734&format=png&auto=webp&s=d5fc357954db0339197fc1dd117ee4a834c988ee

>As described in detail in the Supplementary Information section of the Tax NPR, the agencies have determined that the derecognition by insured depository institutions of Deferred Tax Assets for Net Operating Loss or tax credit carryforwards in the Call Report raises significant supervisory and other concerns. Consistent wit

I am looking at ways to standardize collaboration in residential design-build; like adding scheduled collaboration and shared checklists to standard company practice.

View Poll

Recently heard that BOR is quickly growing part of risk management, and wanted insights on what the day to day looks like and opportunities for career advancement

Bolloré Transport & Logistics today announced the deployment of PRISM, its next-generation 4PL company designed to meet the specific needs of customers who are engaged in transforming their supply chain.

https://preview.redd.it/0eakjivxe5u71.png?width=1024&format=png&auto=webp&s=4030b44ddb2a939048861383336d07ebb92734ee

PRISM, which has a presence in every continent, has developed an integrated offer of services and advice based on its robust expertise in transport and customs. It also offers digital solutions which can be customised and interfaced, either through its own LINK 4PL management system or through reversible solutions available on the market.

Hey can anyone give me info on Operational risk? I’m getting more into it but it’s so broad to me like it can be any day to day operation. If you have any docs on it I would appreciate it. Especially if it relates to operational risk in banking and mortgage operations. Thank you.

Short position holders are held liable to the long holder for distributions made by the company including (but not limited to) dividends (regular cash, special cash, shares), rights/warrants, and spin-off’s. This means that you could be liable for a substantial payment (or take on additional significant economic exposure) if you are short at the close business on the day prior to ex-dividend date.

Corporate Action

HODL and Good Luck to All !!🍀🍀

Keeping it vague, but a coworker is part of a meeting (through Skype) with a foreign delegation, but during one of the five days he's got his first COVID vaccine booked because he's part of a high risk group. He's in the meeting in case our area is discussed but it likely won't be, and there will be 5 other Canadian reps there who can share notes. The manager can't attend herself because she's currently doing half days to help with her kid's school.

Is she really allowed to prevent the employee from getting a COVID vaccine due to operational requirements? What kind of leave would this even fall under?

Thank you!

Hi Guys, I hold a CPA and have been working in operational/compliance risk for a few years now. I wish to move into treasury/front office. I know FRM would be suited considering i could get into Risk management department (credit/market risk preferably), but I am not sure if getting a CFA would be rather more beneficial as its a relatively broad degree than FRM and would still open more doors in future (but i'm not sure which doors). Or i could get both certifications, which i think is overkill.

Your suggestions would be helpful to get clarity of thought. TIA.

Hi y'all. Looking for some advice here on what would be the best course of action for me to pivot from Risk into the business side. So I have joined my current small risk consulting firm right after graduation almost 2 years ago. Projects are mainly long term body-shop style staffing (marketed differently) across 3 or 4 banks (the main clients). The market (an EU country) is quite small and projects are assigned purely by luck. If you happen to be on the bench when there is an opening, you simply get staffed on that specific task, regardless of your path/speciality. After 2 years (and 2 big assignments and 3 small ones), I have found out that my path was slowly gravitating towards operational risk, pushed by my managers, which is not something I am specifically into. At the same time, other risk areas were not that interesting to me. When I have accepted the offer 2 years ago, I had no clear view about risk, in general, in financial institutions, and I jumped on the first financial industry opportunity to secure an entry level job (since I had a pretty limited choice) and get some experience. On the background side, I have completed 2 Masters degree in Finance and passed the L1 CFA earlier this year. Now, due to major disagreements about the management style of my consulting firm (incl. being forced into unethical situations - yeah it sounds quite dramatic for a risk job), and out of boredom of this lack of transparency and control over my career path (coupled with a decreasing interest in risk), I am looking into a move out of consultancy and operational risk towards some other financial position. The issue remains that I am not really sure on what to pursue. The financial industry in the market is very traditional, with limited options (read almost no PE, IM... few local commercial banks, small branches and international custodians). Now my options are the following:

• Go for an internal position at a major custodian bank I had already been assigned to and in which I had a perfect cultural fit and enough executive exposure. I think that landing a job there would be quite easy, it's just a matter of timing and opportunity. My main concern is that I am not really sure about the career growth and progression options over there. I am also having doubts on whether custody is exciting enough for me.
• Go for another consulting firm (potentially a big 4 - I have previously been approached by some partners) but into another financial domain, noting that all cons

The definition of Operational Risk varies but generally covers the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. I however want to relook this general definition and present what Operational Risk should reflect taking into account all the cyber security related risks that is currently plaguing organizations today. With the current definition, one cannot quantify internal processes and people. So for example, when there is an event that causes a disruption, what in the organization’s internal processes failed what aspect relating to people need to relook? We know Operational Risk exists in every organization and size does not matter. What matters however are two critical areas that need to be included in the Operational Risk definition:

· Internal Controls

· User Awareness

We have seen (and still seeing) how organizations (again size does not matter) have experienced intrusion or losses due to lack of (or oversight) of internal controls. Although various organization style certifications exists that verifies all is in place, organizations are dynamic in nature and internal controls and processes change in a little as a year. Internal controls needs to be constantly monitored by the CISO, CIO and Internal Audit to ensure that changes are managed. Monitoring internal controls must be considered a Standard Operating Procedure (SOP) as this exposes an organization’s crown jewels to unwanted attacks. Now internal controls usually span a broad spectrum but can generally cover such areas as:

· User Account Management

· Access to key information based on need to know

· Defense in depth

· Network segmentation

The umbrella to the above is alerting mechanisms. Knowing that alerts are being generated is one thing but paying attention to these alerts, analyzing and reporting is another thing. Time and again we have seen where cyber attacks on organizations have occurred and after conducting the relevant post mortem checks and forensics, reporting of alerts generated from key systems were sidelined.

Next in the proposed definition change is user awareness – another critical area of the weak link. Organizations must constantly ensure that its end users are always updated on the latest threats and how these can impact its environment. We have seen again that lack of user awareness have caused a number of high profile data breaches, ransomware is the first threat that comes to mind. Yes we can r

Completed 2+ years in external audit, and currently looking for exit opportunities. Got an offer in Internal audit at a bank, which is considered the best internal audit department in the region. On the other hand, I have a final interview for Operational/market risk in one of the branches of a foreign bank. I am not sure which to pursue as I am interested in both and career wise I heard risk has better growth and experience.

Would like your input on the same please.

Hey can anyone give me info on Operational risk? I’m getting more into it but it’s so broad to me like it can be any day to day operation. If you have any docs on it I would appreciate it. Especially if it relates to operational risk in banking and mortgage operations. Thank you.