Entries by Niklas Wolfe

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Enhancing Risk Oversight in Derivatives Operations

In the ever-evolving landscape of capital markets, recent studies, such as the ORX scenarios report, have underscored the mounting challenges faced by firms, particularly within the derivatives space. Among the top three risk scenarios identified are information security, conduct, and transaction processing and execution. In this dynamic environment, the intricate interplay between technology and human […]

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Strengthening Cyber Resilience with Risk Communities: How the Risk Cockpit Addresses DORA

In an increasingly digital world, where businesses rely heavily on technology and interconnected systems, the importance of cyber resilience cannot be overstated. Recent cyber incidents have demonstrated that the financial industry is no exception to this rule. This is where the Futures Industry Association (FIA) and the European Union’s Digital Operational Resilience Act (DORA) come into […]

Leveraging the Risk Cockpit to Manage Risk in Financial Services

Introduction: Our client is a leading middle and back-office service provider to tier 1 banks. They are responsible for managing a wide range of business units and processes that involve significant risk. To effectively manage this risk, our client needed a comprehensive risk management tool that could track potential risks and help them respond quickly […]

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Unraveling the Complexity of Credit Risk in Capital Markets Firms

Credit risk is a critical factor for capital markets firms as it directly affects their ability to manage potential financial losses stemming from defaults or failure to meet obligations. However, complexity within these organizations often hampers the assessment and communication of credit risk. In this blog post, we will explore the significance of understanding credit […]

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Risk Cockpit November 2022

Workflow focused Home screen The new Risk Cockpit home screen allows users to easily understand the actions that they need to take when they log in. By completing the recommended actions for which users are responsible they can help their organization ensure their Risk Register is kept up to date. ‍

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Risk Cockpit October 2022

The Risk Cockpit has two new features this month. Users can add data metric slots on an Adhoc basis, this allows users to track metrics that do not have a regular data update schedule. All past values are saved allowing users to understand the evolution over time. ‍ ‍ The Basel II Framework, previously only […]

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Risk Cockpit September 2022

Users can now capture additional details on Events, increasing the control they have over events. The new “Remediation” tab on Events allows the capture the root cause, impact and the actions that are taken to remediate any event. There is also added functionality that allows a user to relate two items of the same type […]

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Risk Cockpit August 2022

The Risk Cockpit has been enhanced with three new features helping users complete timely and accurate Risk Assessments. 1.     A flag on if there has been a change to a risk’s related items since the last risk assessment 2.     The ability to see which related items have changed since the last risk assessment 3.     The ability for the […]

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Risk Cockpit July 2022

Users can now easily add, update and track metrics. When a user navigates to an item that supports metrics, they are able to see a new tab displaying any metrics that sit below the item. The tracking of these changes is enhanced by the introduction of ad-hoc metrics. Ad-hoc metrics are any that do not […]