The pressing concerns facing risk professionals over the implementation of Basel II, have been addressed in a report issued by Reuters and the Professional Risk Managers’ International Association (PRMIA). The joint report, which focused on Basel II and credit and operational risk, found that 53 per cent of respondents were planning to spend in the range of EUR100,000 – EUR5 million on new related credit risk IT solutions in 2003. A further 27 per cent of respondents said they would spend between EUR700,000 – EUR5 million on advanced Internal Rating Based approach for Basel II and the remaining 20 per cent revealing they either have no plans or do not know how much they will spend in 2003.In terms of priorities relating to aggregating counter-party exposure across their company, risk managers said that combining net outstanding positions across products ranked top of their list of priorities, followed by netting and offsetting positions. Concerning the Basel Accord’s operational risk implications, Reuters and PRMIA asked risk managers to comment on their company’s operational risk strategy and found that 32 per cent are still actively analysing the impact of Basel II.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.