Operational Risk NewsLatest news articles on the subject of Operational Risk, Sarbanes-Oxley and Basel II. m-Bryonic Solutions Limited provide solutions for managing process efficiency and operational risk.BOC Successfully Curbs 26 Crimes Involving Over $8 Million- April 29, 2005 In the first quarter of 2005, subsidiary banks of the Bank of China successfully stopped 26 crimes, preventing over $8.45 million from being stolen.http://www.garp.com/risknews/newsfeed.asp?Category=19&MyFile=2005-04-29-10701.html IT bosses hazy on business risks of downtime- April 25, 2005 As IT increasingly becomes an integral part of business success, firms are struggling to mitigate the risk of IT failure to service delivery.http://www.computerweekly.com/articles/article.asp?liArticleID=138149 Sarbox Whistleblower Requirements, How to Set Up a Confidential Hotline Program- April 18, 2005 The Sarbanes-Oxley Act of 2002 requires all publicly-traded companies to establish procedures for the receipt, retention, and treatment of complaints. It also requires a mechanism for the confidential, anonymous submission by employees regarding questionable accounting or auditing matters. The process must be open to employees, investors, analysts, and others; the law does not limit who must be able to lodge a complaint. The Audit Committee of the Board of Directors is responsible for these...http://www.garp.com/risknews/newsfeed.asp?Category=19&MyFile=2005-04-18-10637.html Unravelling business continuity terminology- April 15, 2005 There is a great deal of confusion when it comes to business continuity terminology. Continuity jargon seems to perplex business managers and practitioners alike. As in many cases, where business continuity is concerned, communication is the key. Poor communication can itself lead to continuity related issues. No less threatening is the case of miscommunication of business continuity principles. Indeed, the ensuing confusion can undermine the most carefully constructed business continuity...http://www.continuitycentral.com/feature0195.htm Basel, China Continues to Face Challenges- April 8, 2005 The China Banking Regulatory Commission (CRBC) announced that 30 banks met the Basel requirement of an 8 percent capital adequacy ratio ( CAR ) by the end of 2004. Although the figure exceeded expectations, the country has over 100 other commercial banks and thousands of credit cooperatives that still have severe capital problems.http://www.garp.com/risknews/newsfeed.asp?Category=19&MyFile=2005-04-08-10576.html Achieving Corporate Objectives by Managing Risk- April 7, 2005 Corporate governance is the glue that holds an organization together in pursuit of its objectives while risk management provides the resilience. The challenge is for the organization to identify clearly the risks it must manage and to assign ownership and accountability for their effective management.http://www.garp.com/risknews/newsfeed.asp?Category=19&MyFile=2005-04-07-10571.html FSSCC puts disaster recovery back on the action agenda- April 6, 2005 The Financial Services Sector Coordinating Council has issued a paper identifying critical issues for industry participants to address in preparing the US financial system for potential disruption caused by acts of terrorism, natural disasters or cyber attacks.http://www.finextra.com/fullstory.asp?id=13472 Risky options- April 5, 2005 Options and derivatives trading has led to a number of major corporate disasters, from Barings Bank to Long-Term Capital Management and from Enron to WorldCom. Is technology a help or a hindrance in pre-empting future corporate collapses, asks Chris Skinnerhttp://www.finextra.com/fullfeature.asp?id=600 |