News, Events and Interesting Reading


 Deutsche Bank, J&K Bank fined Rs 3 crore each

The RBI on Wednesday said it has imposed a penalty of over Rs 3 crore on Deutsche Bank for non-compliance of various norms, including asset classification and KYC.

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 Competition Commission opens investigation against Swiss financial institutions

On 13 November 2018, the Competition Commission opened an investigation against several Swiss financial institutions. The subject of the proceedings is an alleged boycott of mobile payment solutions by international providers such as Apple Pay and Samsung Pay.

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 Police collect evidence in ATM burglary case

A day after securing the custody of two accused in the twin ATM burglary case at Irumpanam and Koratty, the police started collection of evidence on Wednesday.

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RiskBusiness News


 RiskBusiness 2018 EMEA Client Working Group

 23rd November 2018
 Browns Butlers Wharf, 26 Shad Thames, Butlers Wharf, London SE1 2YG, United Kingdom
RiskBusiness hosting subscribers of the RiskIntelliSet at a working group on current industry issues and the approach through which the RiskIntelliSet will facilitate managing governance, risk, audit and compliance activities in a proactive and intelligent manner into the future.

This event is open to representatives from all RiskIntelliSet subscribers.

 airmic ERM Forum 2018

 6th November 2018
 etc.venues, Fenchurch Place, London
RiskBusiness exhibiting the RiskIntelliSet's advanced governance, risk, audit and compliance functionality.

Interesting Reading


 The Risk Universe
 Alfredo B. Roisenzvit
 article Big data TRU ABR c.pdf
What does the future look like for operational risk measurement and management as big data becomes an increasingly important industry tool?

 RiskBusiness Client Newsletter Issue 44 February 2015
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 RiskBusiness Client Newsletter Issue 43 January 2015
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 RiskBusiness publishes guidance on three lines of defence

 21 September 2014
 RiskBusiness Position Paper
 RiskBusiness International
While there has been a lot of discussion as to what constitutes a three lines of defence model, there remains across all industries and especially within financial services, little understanding of the ramifications of actually implementing a risk agnostic, organisation-wide three lines of defence model.

Drawing upon its experiences in working with a wide range of firms across the globe, of different size, complexity and management structure, RiskBusiness has established a step-by-step guide to help firms establish a robust, proactive three lines of defence model which can stand the test of time. The resultant approach allows for custom models – there is no one size fits all – which have been tried and tested in corporate entities, banks, insurers, asset managers and other firms.

“Three lines of defence is not about risk management,” states Mike Finlay, chief executive of RiskBusiness International. “You cannot try and apply a model that affects corporate structure, individual accountability and, as a consequence, corporate culture by thinking it is a risk management initiative – even worse if you think it only applies to operational risk and perhaps to the compliance function. Three lines of defence is integral to the DNA of the firm, it starts with the vision, mission and values, flows through corporate governance, corporate strategy and overall business objectives into the everyday functioning and decision making of the entire enterprise. It is all about the core principles we base our business on – and how we measure ourselves against the achievement of those principles and our business objectives.”

Global regulation, particularly in the financial services industry, is increasingly focussing on good governance and how the Board and executive management behave and run the enterprise. To comply with the ever increasing volume of regulation and to achieve the firm’s potential, every enterprise should implement a robust governance structure which embraces the three lines of defence concept, making this guidance an invaluable resource for every firm, irrespective of geography, size or nature.