Moody’s has issued its first Operational Risk Assessment (ORA) reports for several European banking groups. The report found that the banking industry is taking steps to address the challenges of assessing and managing operational risk, spurred primarily by the provisions of the ‘First Pillar’ of the forthcoming Basel 2 Accord. Moody’s noted that this is still an evolving discipline within the broader risk management area, compared to market risk and credit risk. ‘Debates about the merits and shortfalls of various methodologies continue across the banking industry and the bank regulatory community’, said Brendon Young, Operational Risk Specialist, who co-authored the ORA reports. The rating agency reiterated its belief that any reliance on quantitative data has to be seen as an integrated first step in a more comprehensive qualitative process of assessing and managing operational risk.
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.