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GoldenSource Launches RiskHub |
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Tuesday, 18 January 2011 |
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The Journal of Compliance, Risk & Opportunity
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The recent financial crisis, in many ways, has set the beginning of a new stage of regulatory reforms worldwide. While the regulators are aiming to make laws and guidelines to address the issues of capital and risk management to create a more resilient financial system, institutions emerging out from the crisis are finding it difficult to comply with these new prudential reforms. ‘Chief Risk Officers are under increasing pressure today. Multiple new regulations driven by the global financial crisis like Solvency II, which puts forth a risk framework for insurance; the Dodd-Frank financial reforms in the US; and Basel III, which strengthens the counterparty credit exposure framework for investment banks. All these require increased reporting, as well as increased transparency around how data is derived and what data governance processes are in place,' comments Stephen Engdahl, senior vice president, product strategy, GoldenSource on the post crisis challenges faced by banks globally.
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