COVID-19 has challenged the robustness of banks’ model risk management and EUC policies. In a context where market behaviors are uncertain and changing rapidly, banks need to adapt their approach to model risk management in order to keep business running as usual, whilst maintaining the quality of their pre-pandemic controls.
In Europe, the US Federal Reserve (FED) and the US Office of the Comptroller of the Currency (OCC)’s Supervisory Guidance on Model Risk Management (SR 11-7) is accepted as the global standard for the application of model risk management (MRM).
In Europe, the US Federal Reserve (FED) and the US Office of the Comptroller of the Currency (OCC)’s Supervisory Guidance on Model Risk Management (SR 11-7) is accepted as the global standard for the application of model risk management (MRM).
Gold-i CEO Tom Higgins recently claimed in Finance Magnates Magazine (“Cryptocurrency liquidity, past, present, future” article) that “the most challenging factor continues to remain the access to and quality of liquidity.”
The growing use of algorithms to automate trading activities is garnering increasing regulatory attention, which highlights the need for dedicated risk management processes and systems.
Despite recent signs that global equities market volatility is showing signs of life once again after a period of prolonged slumber, investment bank execution franchises should remain mindful of the long-term imperative to continue to reduce costs at the margins across the whole of the brokerage business.
Following the 2008 global financial crisis and recent malpractice scandals, institutions across the financial services industry have started taking proactive measures to protect themselves from market and operational risks by improving their surveillance capabilities.
2017 has been an exciting time for GreySpark due to the growth of our two new offices in New York and Edinburgh. Edinburgh has done extremely well, hiring three new consultants over the summer period. New York has also made some great progress and we have built a great pipe of consultants who are ready to go in 2018.
