Manoj_Jain's blog

Basel Guidelines on AML

Category: 

The Basel Committee on Banking Supervision has issued a set of guidelines to describe how banks should include risks related to money laundering and financing of terrorism within their overall risk management framework.

Prudent management of these risks, together with effective supervisory oversight, is critical in protecting the safety and soundness of banks as well as the integrity of the financial system. Failure to manage these risks can expose banks to serious reputational, operational, compliance and other risks.

United Bank of India - How Simple is projected as Complex

Banking is a very simple business.

You lend money and you recover money. In and Out. That's it.

And you don't need an automated system to tell you that you have not recovered money on your loans portfolio. there will be hundreds of people looking at data, reports, discussion, interactions with clients and so on who will know if there is a delay in payment.

A few examples
1. Did the Top Management not bother to see why the profits are being eroded.

2.Did Credit Risk Monitoring team not see that accounts had no activity during the annual reviews.

Shop at Big Bazaar and land up in a Timeshare presentation - A horrible shopping experience

I am not a regular shopper at the store, but went there while visiting a mall. So, here is a story on why I hated my recent trip to Big Bazaar. Shopping at big bazaar defies all business ethics. It faces a huge negative impact to its reputation risk. Its business risk is huge when it adopts unfair and unethical practices. Although, there is nothing legally wrong with what it does, but in the grey zone, it does a lot. And here's how.

Corporate Governance : Managing Diverse Expectations and achieving complete disclosures

Diverse Expectations
While the fundamentals of corporate governance apply across all substantial public and private enterprises, demands and capabilities of stakeholders vary. The family in family-businesses, institutional investors and private equity companies, shareholders, who contribute capital; third parties like auditors and rating agencies assess the risks; regulators, employees, customers, civil society - in short, Corporate Governance has different connotations for each of these segments.

Training in the Banking Industry

Training in the Banking industry is always in demand. Listing below some topics that are usually required for trainings by Banks/ NBFC.

-Credit appraisal- SME/ Agri/ mid Corporates/ Large borrowers-
-Legal aspects of banking- rights and obligations of bankers/ customers
-FSLRC Act/ Banking Ombudsman
-Types of charges and modes of creating charges
-Balance Sheet Analysis- Large corporates/ group appraisals
-Retail Banking- Deposits,Lending,cross selling
-Marketing Financial Products
- Customer service- how to attain the gold standard

Fraud Risk Management 101

MAIN TYPE OF FRAUD THAT AFFECT COMPANIES
• Account take-over - where a fraudster collects sufficient information about the victim to dupe the victim’s financial institution that they are the customer

HOW IS THE ID OBTAINED / USED
• Personal Theft / Social Engineering / Internet / Business Theft / Lost
• Information on Company Directors obtained via Companies House
• Instances of insider infiltration – obtaining information to be used in fraud
• Fraudster has sufficient information to pretend to be customer and uses it

Reputation Risk- Why you should snap all dealings with Snapdeal

"Why reputation is damaged when customers are taken for a ride"

It is the same story being repeated time and over again. Startups, larger companies, well established companies all dealing with customers, sometimes tend to take customers for granted.

Risk Appetite and linkage to stress testing and capital planning

Risk appetite, stress testing, and capital planning are inextricably linked because it is difficult to address any of the three concepts individually without addressing the others.

Risk appetite can be regarded as the most fundamental concept for the following reasons:

•It drives the other two:
o It is not as meaningful to analyze the implications of a stress test, or to plan how much capital the bank will require, without first reconciling risk-taking and business goals.

•It comes from the top:
o Risk appetite is a board-level initiative that permeates the entire organization.

Insurance Business Pulse - Top 10 risks and opportunities, 2013-2015 (E&Y Report)

At Riskpro, our goal is to bring you closer to global best practices in Risk Management. Often, we share relevant and useful content from other leading risk consulting organization. Given below is a very good document from Ernst & Young on Risk Management.

www.ey.com/Publication/vwLUAssets/Insurance_Business_Pulse,_2013%E2%80%9...$FILE/Insurance-Business-Pulse-2013%E2%80%932015.pdf

Pages

Subscribe to RSS - Manoj_Jain's blog

Other Services of Interest

  • Cloud Security - Knowledge Snippets

    Riskpro presents a series of 5 articles / newsletters on cloud security. Cloud computing is attractive because it offers agility, resiliency and economy to organisations which adopt it. What is less...
  • Corporate Training Ideas - Risk Management and Compliance

    The following training options are appropriate for Banks, NBFC and small banks. • Basic fundamentals of Risk Management (half day) o Including Fraud, Reputational Risk issues also apart from...
  • Third Party Risk Management (TPRM) - Webinar

    EVENT OVERVIEW: TPRM or Third Party Risk Management is not a new concept, but something that needs to be addressed today. With Cybersecurity, Privacy issues emerging every day, often we find that...
  • Global Compliances - Free Webinar on key Global Regulations

    EVENT OVERVIEW: Riskpro India is conducting a free webinar on how to be future ready with respect to Global Compliances. Alleviate risk and strengthen your control on global compliance with this...
  • Sarbanes Oxley (SOX) Compliance - Free Webinar

    EVENT OVERVIEW: Riskpro India is conducting a free webinar on SOX (Sarbanes Oxley) Compliance which will take you through the applicability and requirements of the SOX 404 and 302 Act. The...
  • Internal Audit and IT Audit on Temporary Basis

    Due to the importance of regulatory compliances, it has become essential that companies are able to audit the business operations effectively. To meet this growing demand, Riskpro India offers...
  • India: Data Protection Services

    The EU General Data Protection Regulation (GDPR) is the most important change in data privacy regulation in 20 years. Now India has its own version of Data protection regulation that will change...
  • Fire Safety Assessments and Training

    Some of our features of Fire Safety Assessments and Training • Fire Science • The common causes of fire • Identify fire hazards • Types of fires and extinguishers • Fire...
  • Go to top