In the complex world of MEA banking, risk management is a high-stakes game where reliable data is your most valuable asset. The banking landscape in the Middle East and Africa is fraught with unique challenges that make effective risk management a complex endeavour. Key Challenges: ➡️Data Scarcity & Regulatory Complexities: The prevalence of privately owned businesses and inconsistent regulations across borders create a challenging environment for risk managers, hindering credit risk assessments and increasing compliance risks. ➡️Volatile Markets: Economic and political instability demands real-time insights for proactive risk management. ➡️Cross-Border Complexities: Inconsistent data across countries complicates risk profiling and management for regional operations. These challenges highlight the critical need for reliable and timely data in MEA banking. Want to know more about overcoming these obstacles? Read our latest article to explore the importance of data-driven risk management in the MEA region. Link to the article: https://lnkd.in/dDYwfsmW #RiskManagement #MEA #Banking #Data #Compliance
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🌟 We are excited to welcome JAN WITTLIN, Operational and Resilience Risk Senior Manager Europe at HSBC, Poland, to our distinguished lineup of speakers! He will be sharing his invaluable expertise on "Proportionate, risk-based approach to assurance supporting non-financial risk management" at the Banking Risk Management 2024 International Summit, addressing both Credit Risk and Operational Risk. 🗓️ Save the Date: 26th - 29th November 2024 📍 Location: Holiday Inn Amsterdam - Arena Towers, Netherlands 💻 Hybrid Event – Join In-Person or Online Join industry leaders and experts in Amsterdam this November for cutting-edge discussions and insights into the future of risk management in banking. 🔹 Credit Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 26th - 27th November 2024 🔹 Operational Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 28th - 29th November 2024 📘 Want more details? 👉 Request the Summit Brochure: [www.pulsecore-risk.com] 👉 Visit our Website: [www.pulsecore-events.com] For group discounts or sponsorship opportunities, reach out to us at [email protected]. Don’t miss this unique opportunity to explore the latest developments in risk management within the banking sector. Register now at [https://lnkd.in/dzt7e9d4]. #CreditRisk #StressTesting #OperationalRisk #RiskControl #Modelling #ModelRisk #ModelRiskManagement #MRM #IFRS9 #Basel #Banks #Banking #Finance #Regulation #ArtificialIntelligence #RiskConsulting #Audit #CreditRiskModeling #RegulatoryCompliance #MacroeconomicIssues #DataLimitations #ClimateChangeRisk #ESGFactors #AIinCreditRisk #MLinCreditRisk #EthicalRiskManagement #CybersecurityRisks #DigitalTransformationChallenges #CybersecurityMeasures #DigitalLandscapeRisks #EnhancedDueDiligence #FintechRisk #OrganizationalRiskCulture #ClimateChangeOperationalRisk #ReputationalDamage #BankingInnovation #RiskManagement #AIinBanking #FintechCollaboration #RiskIdentification #DigitalTransformation #BankingTechnology #FinancialServices #MobilePayment #Cybersecurity #FinancialCrime #CustomerExperience #OpenBanking #FraudPrevention #DigitalOnboarding #DigitalPayments #DigitalIdentity #FintechWorld #AI #FutureOfBanking
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🌟 We are excited to welcome JAN WITTLIN, Operational and Resilience Risk Senior Manager Europe at HSBC, Poland, to our distinguished lineup of speakers! He will be sharing his invaluable expertise on "Proportionate, risk-based approach to assurance supporting non-financial risk management" at the Banking Risk Management 2024 International Summit, addressing both Credit Risk and Operational Risk. 🗓️ Save the Date: 26th - 29th November 2024 📍 Location: Holiday Inn Amsterdam - Arena Towers, Netherlands 💻 Hybrid Event – Join In-Person or Online Join industry leaders and experts in Amsterdam this November for cutting-edge discussions and insights into the future of risk management in banking. 🔹 Credit Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 26th - 27th November 2024 🔹 Operational Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 28th - 29th November 2024 📘 Want more details? 👉 Request the Summit Brochure: [www.pulsecore-risk.com] 👉 Visit our Website: [www.pulsecore-events.com] For group discounts or sponsorship opportunities, reach out to us at [email protected]. Don’t miss this unique opportunity to explore the latest developments in risk management within the banking sector. Register now at [https://lnkd.in/dzt7e9d4]. #CreditRisk #StressTesting #OperationalRisk #RiskControl #Modelling #ModelRisk #ModelRiskManagement #MRM #IFRS9 #Basel #Banks #Banking #Finance #Regulation #ArtificialIntelligence #RiskConsulting #Audit #CreditRiskModeling #RegulatoryCompliance #MacroeconomicIssues #DataLimitations #ClimateChangeRisk #ESGFactors #AIinCreditRisk #MLinCreditRisk #EthicalRiskManagement #CybersecurityRisks #DigitalTransformationChallenges #CybersecurityMeasures #DigitalLandscapeRisks #EnhancedDueDiligence #FintechRisk #OrganizationalRiskCulture #ClimateChangeOperationalRisk #ReputationalDamage #BankingInnovation #RiskManagement #AIinBanking #FintechCollaboration #RiskIdentification #DigitalTransformation #BankingTechnology #FinancialServices #MobilePayment #Cybersecurity #FinancialCrime #CustomerExperience #OpenBanking #FraudPrevention #DigitalOnboarding #DigitalPayments #DigitalIdentity #FintechWorld #AI #FutureOfBanking
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🌟 We are excited to welcome JAN WITTLIN, Operational and Resilience Risk Senior Manager Europe at HSBC, Poland, to our distinguished lineup of speakers! He will be sharing his invaluable expertise on "Proportionate, risk-based approach to assurance supporting non-financial risk management" at the Banking Risk Management 2024 International Summit, addressing both Credit Risk and Operational Risk. 🗓️ Save the Date: 26th - 29th November 2024 📍 Location: Holiday Inn Amsterdam - Arena Towers, Netherlands 💻 Hybrid Event – Join In-Person or Online Join industry leaders and experts in Amsterdam this November for cutting-edge discussions and insights into the future of risk management in banking. 🔹 Credit Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 26th - 27th November 2024 🔹 Operational Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 28th - 29th November 2024 📘 Want more details? 👉 Request the Summit Brochure: [www.pulsecore-risk.com] 👉 Visit our Website: [www.pulsecore-events.com] For group discounts or sponsorship opportunities, reach out to us at [email protected]. Don’t miss this unique opportunity to explore the latest developments in risk management within the banking sector. Register now at [https://lnkd.in/dzt7e9d4]. #CreditRisk #StressTesting #OperationalRisk #RiskControl #Modelling #ModelRisk #ModelRiskManagement #MRM #IFRS9 #Basel #Banks #Banking #Finance #Regulation #ArtificialIntelligence #RiskConsulting #Audit #CreditRiskModeling #RegulatoryCompliance #MacroeconomicIssues #DataLimitations #ClimateChangeRisk #ESGFactors #AIinCreditRisk #MLinCreditRisk #EthicalRiskManagement #CybersecurityRisks #DigitalTransformationChallenges #CybersecurityMeasures #DigitalLandscapeRisks #EnhancedDueDiligence #FintechRisk #OrganizationalRiskCulture #ClimateChangeOperationalRisk #ReputationalDamage #BankingInnovation #RiskManagement #AIinBanking #FintechCollaboration #RiskIdentification #DigitalTransformation #BankingTechnology #FinancialServices #MobilePayment #Cybersecurity #FinancialCrime #CustomerExperience #OpenBanking #FraudPrevention #DigitalOnboarding #DigitalPayments #DigitalIdentity #FintechWorld #AI #FutureOfBanking
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🌟 We are excited to welcome JAN WITTLIN, Operational and Resilience Risk Senior Manager Europe at HSBC, Poland, to our distinguished lineup of speakers! He will be sharing his invaluable expertise on "Proportionate, risk-based approach to assurance supporting non-financial risk management" at the Banking Risk Management 2024 International Summit, addressing both Credit Risk and Operational Risk. 🗓️ Save the Date: 26th - 29th November 2024 📍 Location: Holiday Inn Amsterdam - Arena Towers, Netherlands 💻 Hybrid Event – Join In-Person or Online Join industry leaders and experts in Amsterdam this November for cutting-edge discussions and insights into the future of risk management in banking. 🔹 Credit Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 26th - 27th November 2024 🔹 Operational Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 28th - 29th November 2024 📘 Want more details? 👉 Request the Summit Brochure: [www.pulsecore-risk.com] 👉 Visit our Website: [www.pulsecore-events.com] For group discounts or sponsorship opportunities, reach out to us at [email protected]. Don’t miss this unique opportunity to explore the latest developments in risk management within the banking sector. Register now at [https://lnkd.in/dzt7e9d4]. #CreditRisk #StressTesting #OperationalRisk #RiskControl #Modelling #ModelRisk #ModelRiskManagement #MRM #IFRS9 #Basel #Banks #Banking #Finance #Regulation #ArtificialIntelligence #RiskConsulting #Audit #CreditRiskModeling #RegulatoryCompliance #MacroeconomicIssues #DataLimitations #ClimateChangeRisk #ESGFactors #AIinCreditRisk #MLinCreditRisk #EthicalRiskManagement #CybersecurityRisks #DigitalTransformationChallenges #CybersecurityMeasures #DigitalLandscapeRisks #EnhancedDueDiligence #FintechRisk #OrganizationalRiskCulture #ClimateChangeOperationalRisk #ReputationalDamage #BankingInnovation #RiskManagement #AIinBanking #FintechCollaboration #RiskIdentification #DigitalTransformation #BankingTechnology #FinancialServices #MobilePayment #Cybersecurity #FinancialCrime #CustomerExperience #OpenBanking #FraudPrevention #DigitalOnboarding #DigitalPayments #DigitalIdentity #FintechWorld #AI #FutureOfBanking
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🌟 We are excited to welcome CPA MARGARET THUO, Director, Quality Assurance Partner, Group Internal Audit at Standard Chartered Bank, UK, to our distinguished lineup of speakers! She will be sharing her invaluable expertise on "Building a Healthy Risk Culture: Practical Steps for Operational Risk Management" at the Banking Risk Management 2024 International Summit, addressing both Credit Risk and Operational Risk. 🗓️ Save the Date: 26th - 29th November 2024 📍 Location: Holiday Inn Amsterdam - Arena Towers, Netherlands 💻 Hybrid Event – Join In-Person or Online Join industry leaders and experts in Amsterdam this November for cutting-edge discussions and insights into the future of risk management in banking. 🔹 Credit Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 26th - 27th November 2024 🔹 Operational Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 28th - 29th November 2024 📘 Want more details? 👉 Request the Summit Brochure: [www.pulsecore-risk.com] 👉 Visit our Website: [www.pulsecore-events.com] For group discounts or sponsorship opportunities, reach out to us at [email protected]. Don’t miss this unique opportunity to explore the latest developments in risk management within the banking sector. Register now at [https://lnkd.in/dzt7e9d4]. #CreditRisk #StressTesting #OperationalRisk #RiskControl #Modelling #ModelRisk #ModelRiskManagement #MRM #IFRS9 #Basel #Banks #Banking #Finance #Regulation #ArtificialIntelligence #RiskConsulting #Audit #CreditRiskModeling #RegulatoryCompliance #MacroeconomicIssues #DataLimitations #ClimateChangeRisk #ESGFactors #AIinCreditRisk #MLinCreditRisk #EthicalRiskManagement #CybersecurityRisks #DigitalTransformationChallenges #CybersecurityMeasures #DigitalLandscapeRisks #EnhancedDueDiligence #FintechRisk #OrganizationalRiskCulture #ClimateChangeOperationalRisk #ReputationalDamage #BankingInnovation #RiskManagement #AIinBanking #FintechCollaboration #RiskIdentification #DigitalTransformation #BankingTechnology #FinancialServices #MobilePayment #Cybersecurity #FinancialCrime #CustomerExperience #OpenBanking #FraudPrevention #DigitalOnboarding #DigitalPayments #DigitalIdentity #FintechWorld #AI #FutureOfBanking
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Bank for International Settlements – BIS (BCBS) has published a consultation paper on "Principles for the sound management of third-party risk" for the banking sector. It highlights the importance of robust third-party risk management for banks in managing third-party service providers, supply chain, nth party and concentration risk. These are key in mitigating any significant disruptive events and enhancing banks' operational resiliency to withstand, adapt and recover from severe disruption. The Committee proposes a principles-based approach to guide banks in achieving an effective Third-Party Risk Management (TPRM) framework. The 12 high-level principles are categorised into three main areas: 1. Governance, Risk Management and Strategy 2. Lifecycle of Third-Party Service Provider Arrangements 3. Role of Supervisors Key takeaways include: Board Accountability: The roles and responsibilities of the Board of Directors in third-party risk management are crucial for having an effective TPRM framework, strategy and risk appetite monitoring. Comprehensive Third-Party Risk Management Lifecycle: Banks should have in place a comprehensive risk identification framework, an appropriate due diligence process, a robust contractual framework, retain sufficient resources to execute oversight and monitoring and maintain viable exit plans for critical third-party service provider arrangements. Supervisory Focus: Supervisors will play a crucial role in identifying systemic risks arising from third-party service provider concentration that provide services to the banking sector. The deadline for the consultation paper is on 9th October 2024. #thirdpartyrisk #bankingregulation #BaselCommittee #riskmanagement #financeservices #concentrationrisk #supplychain #operationalresilience #strategy #riskappetite #bis
Principles for the sound management of third-party risk
bis.org
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🌟 We are excited to welcome CPA MARGARET THUO, Director, Quality Assurance Partner, Group Internal Audit at Standard Chartered Bank, UK, to our distinguished lineup of speakers! She will be sharing her invaluable expertise on "Building a Healthy Risk Culture: Practical Steps for Operational Risk Management" at the Banking Risk Management 2024 International Summit, addressing both Credit Risk and Operational Risk. 🗓️ Save the Date: 26th - 29th November 2024 📍 Location: Holiday Inn Amsterdam - Arena Towers, Netherlands 💻 Hybrid Event – Join In-Person or Online Join industry leaders and experts in Amsterdam this November for cutting-edge discussions and insights into the future of risk management in banking. 🔹 Credit Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 26th - 27th November 2024 🔹 Operational Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 28th - 29th November 2024 📘 Want more details? 👉 Request the Summit Brochure: [www.pulsecore-risk.com] 👉 Visit our Website: [www.pulsecore-events.com] For group discounts or sponsorship opportunities, reach out to us at [email protected]. Don’t miss this unique opportunity to explore the latest developments in risk management within the banking sector. Register now at [https://lnkd.in/dzt7e9d4]. #CreditRisk #StressTesting #OperationalRisk #RiskControl #Modelling #ModelRisk #ModelRiskManagement #MRM #IFRS9 #Basel #Banks #Banking #Finance #Regulation #ArtificialIntelligence #RiskConsulting #Audit #CreditRiskModeling #RegulatoryCompliance #MacroeconomicIssues #DataLimitations #ClimateChangeRisk #ESGFactors #AIinCreditRisk #MLinCreditRisk #EthicalRiskManagement #CybersecurityRisks #DigitalTransformationChallenges #CybersecurityMeasures #DigitalLandscapeRisks #EnhancedDueDiligence #FintechRisk #OrganizationalRiskCulture #ClimateChangeOperationalRisk #ReputationalDamage #BankingInnovation #RiskManagement #AIinBanking #FintechCollaboration #RiskIdentification #DigitalTransformation #BankingTechnology #FinancialServices #MobilePayment #Cybersecurity #FinancialCrime #CustomerExperience #OpenBanking #FraudPrevention #DigitalOnboarding #DigitalPayments #DigitalIdentity #FintechWorld #AI #FutureOfBanking
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🌟 We are excited to welcome CPA MARGARET THUO, Director, Quality Assurance Partner, Group Internal Audit at Standard Chartered Bank, UK, to our distinguished lineup of speakers! She will be sharing her invaluable expertise on "Building a Healthy Risk Culture: Practical Steps for Operational Risk Management" at the Banking Risk Management 2024 International Summit, addressing both Credit Risk and Operational Risk. 🗓️ Save the Date: 26th - 29th November 2024 📍 Location: Holiday Inn Amsterdam - Arena Towers, Netherlands 💻 Hybrid Event – Join In-Person or Online Join industry leaders and experts in Amsterdam this November for cutting-edge discussions and insights into the future of risk management in banking. 🔹 Credit Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 26th - 27th November 2024 🔹 Operational Risk Focus 🕒 Timing: 09:00 - 17:00 (CEST) | 28th - 29th November 2024 📘 Want more details? 👉 Request the Summit Brochure: [www.pulsecore-risk.com] 👉 Visit our Website: [www.pulsecore-events.com] For group discounts or sponsorship opportunities, reach out to us at [email protected]. Don’t miss this unique opportunity to explore the latest developments in risk management within the banking sector. Register now at [https://lnkd.in/dzt7e9d4]. #CreditRisk #StressTesting #OperationalRisk #RiskControl #Modelling #ModelRisk #ModelRiskManagement #MRM #IFRS9 #Basel #Banks #Banking #Finance #Regulation #ArtificialIntelligence #RiskConsulting #Audit #CreditRiskModeling #RegulatoryCompliance #MacroeconomicIssues #DataLimitations #ClimateChangeRisk #ESGFactors #AIinCreditRisk #MLinCreditRisk #EthicalRiskManagement #CybersecurityRisks #DigitalTransformationChallenges #CybersecurityMeasures #DigitalLandscapeRisks #EnhancedDueDiligence #FintechRisk #OrganizationalRiskCulture #ClimateChangeOperationalRisk #ReputationalDamage #BankingInnovation #RiskManagement #AIinBanking #FintechCollaboration #RiskIdentification #DigitalTransformation #BankingTechnology #FinancialServices #MobilePayment #Cybersecurity #FinancialCrime #CustomerExperience #OpenBanking #FraudPrevention #DigitalOnboarding #DigitalPayments #DigitalIdentity #FintechWorld #AI #FutureOfBanking
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The Reserve Bank of India (RBI) on 30th April 2024 released a comprehensive Guidance Note on Operational Risk Management and Operational Resilience, applicable to a wide range of Regulated Entities (REs) including Commercial Banks, Cooperative Banks, All-India Financial Institutions, and Non-Banking Financial Companies. Key highlights of the Guidance Note include the following: • Promotes effectiveness of Operational Risk Management and enhances Operational Resilience of REs • Adopts a principle-based and proportionate approach for smooth implementation across REs of various sizes and risk profiles • Built on three pillars: 1) Prepare and Protect, 2) Build Resilience, 3) Learn and Adapt • Provides guidance on governance, risk culture, identification and assessment, monitoring and reporting, control and mitigation • Focuses on essential elements of Operational Resilience like mapping interconnections, third-party management, business continuity planning, incident management, and more • Emphasizes continuous improvement through feedback systems Implications for Regulated Entities: • REs will need to align their Operational Risk Management Frameworks with the principles outlined in the Guidance Note • Board of Directors and Senior Management will have increased responsibilities in overseeing and implementing robust Operational Risk Management practices • REs must identify and map their critical operations, interconnections, and interdependencies to enhance Operational Resilience • Strengthening of risk identification, assessment, monitoring, and reporting processes will be required • REs should focus on effective change management, incident management, and third-party dependency management • Continuous improvement through feedback systems and lessons-learned exercises will be key to adapting to the evolving risk landscape. The Guidance Note aims to strengthen the ability of REs to withstand operational disruptions and ensure continuous delivery of critical functions to support financial stability. It will help REs navigate an increasingly complex and dynamic risk environment. #RBI #OperationalRisk #OperationalResilience #RiskManagement #FinancialStability #GuidanceNote The Digital Fifth Shashank Shekhar
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