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Risk Insights Newsletter December 2018 Edition | Issue 49
Issue Nine, Risk Insights Magazine
Written by the industry, for the industry... Available as a complimentary 60+ page resource for you and your colleagues, get your free copy here
Top Stories
Senior practitioners across the financial services industry join FinTech Advisory Board for the Global FinTech 250 Report set to be released at the X-Tech 2019 Convention in Las Vegas, April 2-3, 2019. Read more.

The full FinTech Advisory Board can be viewed online here and also contains information on how to take part in the survey. All those who take part will receive a complimentary copy of the full FinTech 250 report.


CRO, Ulster Savings Bank | CISO, BMO Financial | Chief Operational Risk Officer, Peoples United Bank | CRO, Newtown Savings Bank | CRO, Canadian Western Bank | CRO, HSBC Securities | Global Chief Technology Risk Officer, BNY Mellon | CRO, Scotiabank | CISO, Wells Fargo | Deputy CRO, Alliance Bernstein | CRO, US Broker and many more.

Register before the full agenda is announced for a preferential rate from just $1,099.


"Money laundering of any source or origin can affect the U.S. financial industry by destabilizing the integrity of the financial institution involved, as well as the financial community as a whole.”

Insight from Shawn Polonet, Assistant Special Agent in Charge, U.S. Department of Homeland Security, Homeland Security Investigations.

"With 85% of all equities ending up in an algo, what does that mean for the market? When you consider that there are 13 stock exchanges and about 40 off-exchange trading facilities in the US alone, I’m surprised the number isn’t even higher. But the rise of algorithms has occurred gradually over the last 15 years in response to the proliferation of trading venues and the need to comply with SEC guidelines for best execution.”

Article by Lindsey Burik, Head of Electronic Trading Americas/Europe, Managing Director, Mizuho Americas

"While broad, common themes and goals, such as regulatory compliance and accounting accuracy, were discussed during the conference, these broad themes took a back seat to the more nuanced and institution-specific obstacles."

Interview with Jeff Prelle, Head of Risk Modeling, Situs.

"There are many ways to build out integrated operational risk management. The implementation would be a multi-year journey depends on the organization size, complexity and risk management maturity."

Article by Lin Lu, SVP, Enterprise Operational Risk Officer, Freddie Mac.


Our A-Z guide is a handy reference for the important terminology, laws and industry bodies within compliance, risk and corporate ownership. It covers:

  • legislation and industry bodies like OFAC, FATCA and AML4
  • the various types of corporate ownership including beneficial ownership
  • key industry terms like sanctioned by extension, politically exposed persons (PEPs) and specially designated nationals (SDNs)
The definition for the First, Second and Third Line of Defense roles have been established for many years. However, the neat categorization of the lines does not include the “First and a half” Line of Defense that operates between the First and Second Line. We have been driving an evolution of the First and a half Line of Defense responsibilities across our clients that is raising the Risk Identification bar.

In this case study, S&P Global Market Intelligence’s Fundamental Probability of Default (Fundamental PD) reveals Hyflux Ltd. period of rapid sales growth over the course of 2016; and consistent increase of PD levels over the course of 2016, made it possible to detect the deteriorating credit quality of the company as early as 2017; 12 months prior to the company’s default in 2018. Read this case study to find out how.

S&P Global Market Intelligence
Are you developing solutions in-house to meet your CECL needs or are you still deciding! In our latest Commentary, Will Newcomer explores why banks building in-house only solutions to CECL compliance may face significant challenges over the long haul and why CECL will, in most cases, warrant seeking external support.

Wolters Kluwer

Complimentary 60+ page financial risk and regulation publication - Written by the industry, for the industry.

Issue Nine contains articles, interviews and filmed conference sessions with thought leaders from: HSBC, ING Group, Bank of China, JPMorgan, KeyBank, European Central Bank, UniCredit, Deutsche Bank and more. Get your copy here.

Enter the Issue Nine competition by sharing this post here for your chance to win a free pass to one of our Events!

This survey is an attempt to assess the current state of how organisations are managing conduct risks across various geographical regions.

Add your voice to the research and take part in the survey here. The survey should take 3-5 minutes and all those who participate will receive a complimentary full copy of the final in-depth report and will also be entered into a prize draw to win a free pass to our operational risk management event series in London and NYC.

PDF Presentation by Gnana Chavali, VP Crown Jewels & Resiliency, Enterprise Technology Risk Management, State Street Corporation, looking into:

How do you determine risk appetite | IT risk appetite framework | Using risk appetite to hold senior leadership accountable | Developing business continuity risk appetite | Next generation approach | High maturity risk appetite statements.

Global survey with risk professionals from across the industry, the survey results will be collated and analysed to form an in-depth report. All respondents will be placed into a prize draw to win a free pass to one of our 2019 Conferences and also a full copy of the final report!

Add your voice to the research and take part in the survey here.

Taking place on January 16 2019, 11:00am (ET)

Led by: Head of AML and Sanctions Risk Assessment, State Street; Former MD, Deputy Global Head Anti-Money Laundering, Citi and Director, Information Technology and Regulatory Informatics and Director, Enforcement
Financial and Consumer Services Commission.

Keynote session, led by Nick Silitch, Group Chief Risk Officer, Prudential.

CeFPro hosted its 7th Annual Risk and Regulation Convention – Risk Americas in May 2018, at this event, we filmed a keynote address looking into the future strategic risk and preparing for changes to harness as an opportunity.

View more insights like this at the upcoming 8th Annual Risk Americas Convention.

Prudential Keynote

Interview with Chris Smigielski, Model Risk Director, TIAA Bank, Lori Evangel, CRO, Genworth Financial and Stevan Magic, SVP, Head of Quantitative Analytics, Regions Bank.

Interview with Genworth Financial and more
Hear more insight at one of our upcoming conferences

March 27-28 - New York City

Evolution of fraud, financial crime & AML threats and management in practice.


April 2-3 - Las Vegas

Moving from the theory to practice – by the industry, to the industry.


March 27-28 - New York City

Key agenda highlights include: Data | Parallel Runs | Validation | IFRS 9 | Implementation | Audit | Sensitivity | Qualitative overlays | Bringing it all together | Recalibration and much more.

View the preliminary agenda here.

Pre-agenda rate available now, don't miss out, register now from only $799. Register here.


May 14-15 - New York City

2019 will feature over 100 speakers and 500 attendees including keynote discussions on:
Transformation programs | Board packages | Banking reform | The fundamentals of data | Emerging risk | AI & Machine learning.

Pre-agenda rate available now, don't miss your chance to register from only $1099. Register here.


For a full listing of our financial risk and regulation thought leadership please visit www.risk-insights.com

Keep updated on our thought-leadership by following us on social media. We provide all LinkedIn group members preferential rates to attend our events.

Visit www.cefpro.com for further information. If you would like to unsubscribe to our emails please click here. Our mailing address is: FL1500, 410 Park Ave, NYC, NY. 10022.