Financial Services

Regulatory Reform In Uncertain Times: No Rest For The Weary

Despite “reform fatigue” and squeezed profit margins, financial services firms are dealing with a continued flood of regulation. Some are turning to new technologies for compliance help. A decade on from the global financial crisis, are policymakers and regulators starting to tire of imposing a seemingly endless drip-feed of new rules on financial services firms? […]

The People Factor in Cyber Breach: Three Key Elements for Building an Effective Human Firewall

INTRODUCTION Without a change in perspective, we risk losing the cyber war being waged on businesses by sophisticated nation states and criminal organizations. Traditional approaches to evaluating risks and controls are insufficient to prevent cyber-attacks. Risk assessments focusing on the people, processes and technology overemphasize the information technology organization. The critical focus needs to be […]

Evolving Role of IA With Cyber Risk

Cyber as an Organizational Risk In 93% of data breaches, the targeted systems were compromised within minutes. 83% of the time, those breaches were not discovered for weeks, leaving the attackers with plenty of time to do their damage and exfiltrate data1. The average consolidated total cost of a U.S. data breach in 2016 was […]

Easing the Complex World of Hedge Accounting

The expected number of financial institutions that use derivatives and hedging to manage interest rate risk is expected to rise as a result of Accounting Standards Update (“ASU”) No. 2017-12, Derivatives and Hedging, issued by the Financial Accounting Standards Board (“FASB”) in August 2017. While the ASU made targeted improvements to current hedging practices, the […]

Let’s Make the Regulatory Capital Rule Simple

On September 27, 2017, the Federal Reserve Board, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (the “Banking Agencies”) issued a proposed joint rule to simplify several requirements in the Banking Agencies’ regulatory capital rule for banks. The proposed rule would apply only to banking organizations that are not […]