International banking supervisory community meets virtually - Focus on the future of banking supervision in a changing world

The 21st International Conference of Banking Supervisors (ICBS), hosted virtually by the Office of the Superintendent of Financial Institutions (OSFI) and the Bank of Canada, was held on 19-22 October 2020. Approximately 450 senior banking supervisors and central bankers representing close to 100 countries took part.

Delegates discussed a wide range of issues related to the future of banking supervision in a changing world. The discussions covered the digitization of finance and the evolution of banking models, operational resilience, climate-related financial risks and remote working arrangements. Participants also exchanged views on the challenges for central banks and bank supervisors in advanced and emerging market economies during the Covid-19 pandemic, as well as adapting to the changing operating environment for central banks and supervisors.

The event included several panel discussions and keynote speeches by Pablo Hernández de Cos, Chair of the Basel Committee on Banking Supervision and Governor of the Bank of Spain, and Prithwiraj Choudhury, Associate Professor at Harvard Business School.

This successful event marks the first time that the Basel Committee has worked with a host country to offer a completely virtual conference.

The ICBS, which has been held every two years since 1979, brings together bank supervisors and central bankers from around the world as well as representatives of international financial institutions. The conference promotes the discussion of key supervisory issues and fosters the continuing cooperation in the oversight of international banking. With its wide membership of senior supervisors and policymakers, the ICBS presents a unique opportunity for a broad-based discussion on issues that are timely and relevant to supervisors in both advanced and emerging market economies.

Spreadsheets: a ticking time bomb

From Bobs Guide –

“The main competitor to Hedgebook’s treasury management system (“TMS”) is excel spreadsheets. They are cheap (can’t get much cheaper than free!), flexible and easy to use. So why do companies choose to replace their spreadsheets with a TMS?Despite the positives of spreadsheets they also represent a significant risk to businesses when relied on as the sole mechanism to record and report treasury derivatives such as FX forwards, FX options and interest rate swaps. Importers and exporters are naturally heavy users of foreign exchange derivatives and often have many outstanding transactions at any given point of time. There are also pre-deliveries and extensions to manage, too.”

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London Training Course - Operations Improvement & Managing Change

Join us in London on the 15th & 16th June 2015 for our “Operations Improvement & Managing Change” training program.

Operations Improvement and innovation are the actions taken to identify, analyze and improve existing business and other operational processes within an organisation to meet its goals and objectives. Operations Improvement applies to all businesses, organizations and their activities – from large modern-day corporations, through offices, factories, shops – and at all levels from businesses or organizations with thousands of staff right down to Mom ‘n Pop stores.

This course is designed for all people involved in business, services and other profit and non-profit organisations to introduce them to the world of Operations Improvement through business and organizational processes – what they are and how they can be improved, leading to a reduction in operating costs and achieving greater operational efficiencies.

Save money by registering before 30 April 2015.

For full details and registrations CLICK HERE.  

Why the Risk Based Internal Audit is so important

For many years Internal Audit considered itself as being solely involved in the controls and processes as they relate to the financial transactions of the firm. Often the internal audit function was considered as part of the review and inspection process in the business. In a way internal auditors often saw themselves and in-house versions of the external variety.

Internal audit did not start out that way. Years ago when I formally studied the subject at university the internal audit ‘bible’ was ‘The Practice of Modern Internal Auditing’ by Lawrence B. Sawer (published by the Institute of Internal Auditors, Inc. originally in 1973). This highly knowledgeable tome of almost 900 pages covered the full ambit of internal auditing in beautiful detail, with dozens of example of checklists and working specimens. These were examples of day-to-day operational risks across all sorts of industries. A small sample ranges from the audit of a highway transport department (covering equipment maintenance, vehicle dispatching, fuel, parts and repair services and general administration) to control and compliance over a range of branches at a major bank. I could go on-and-on, but I guess that you get the picture.

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Small Business Social Series - Getting Time Back in Your Day

The Small Business Social Series is sponsored by Bank of America and MasterCard. Their goal is to educate small business owners on time saving tips and products to help them manage their working day and maximize their time.

BYOC (Bring Your Own Computer)

From Deloitte CIO Journal

“Deloitte predicts that in 2013, very few additional companies will adopt a bring-your-own-computer (BYOC) policy, and some of those that already have one will abandon them. At the same time, Deloitte also predicts that more than 50 percent of Fortune 500 companies will allow employees to bring their own computers. The reason for the dual prediction is that there are two common (but different) interpretations of what BYOC means.

The End of Indian IT Staffing as We Know It

“India's IT outsourcers are promoting "mini CEOs" capable of running businesses on their own, while trimming down on the hordes of entry-level computer coders they normally hire as they try to squeeze more profits out of their staff.’

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What is Operational Risk?

What is Operational Risk and what do the Basel Accords cover? This short video is from the Basel II Compliance Professionals Association.

Bank Operations - HSBC managers now talk to customers via webcam

HSBC has introduced a new consultation service that allows Premier customers in Hong Kong to hold virtual meetings with the company managers online. Customers are able to get access to the Live Connect service through the bank's Web site, clicking on a button to open a window containing a real-time view of their relationship manager.

Speaking to the managers via a webcam and computer speakers consumers can ask their questions and get instant financial advice on products.

While at the initial stage the service is being launched for Premier customers, eventually it will be extended to all sites in Hong Kong by the year end.

HSBC also launched Let US Call You service that allows customers leave their request online and be recalled immediately by the bank representative who will speak the language specified by a consumers on the website.