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Stanley Epstein

The financial crisis and operational risk management

As a committed operational risk professional, I cannot help but stare in amazement amidst all the financial ruin and desolation that surrounds us. There has been a lot of hand-wringing and pronounceme...

29 Dec 2008
Innovation in Financial Services
Stanley Epstein

New products - watch your operational risk management

As a committed operational risk professional, I cannot help but stare in amazement amidst all the financial ruin and desolation that surrounds us. The hand wringing and the weeping about credit risk, ...

16 Nov 2008
Stanley Epstein

Is this compensation?

Executive compensation is in the headlines again. And guess where? Nowhere else but than about executives at the failed Lehman Brothers. I see that the failed investment bank's CEO, Richard Fuld, has ...

10 Oct 2008
Innovation in Financial Services
Stanley Epstein

Lip Service

A key element in the development of any tangible product is the risk analysis that is (or should be) included in the design stage. If I build this object/product as specified, how safe is it going to ...

08 Oct 2008
Operational Risk Management
Stanley Epstein

The financial crisis - like a bad movie

It is absolutely frightening, watching how the rumours and the panic spreads. It's really scary following the daily press and being jolted into reality each morning by the blazing headlines as the tid...

08 Oct 2008
Stanley Epstein

Let the innovators innovate!

If you really want to boost the EU's economic fortunes, improve its competitiveness and facilitate its progressive adaptation to the digital age then you need less regulation, not more. And the best ...

04 Sep 2008
Innovation in Financial Services
Stanley Epstein

Is this a disaster in the making?

If the Misys data are correct we are sitting atop a volcano that is just about to blow! Firstly forty one percent of failed cross-border transactions is appalling! This means that almost every second ...

04 Sep 2008
Operational Risk Management
Stanley Epstein

Ripping out the operational 'guts'

Good for the FSA for warning the investment banks on staff cuts in middle and back office functions . Clearly from the banks side, it is the usual story. Back and middle office staff are expendable. ...

30 Aug 2008
Stanley Epstein

How do you price reputational risk?

A colleague, involved in operational risk management at a major bank, recently asked me what my feelings are regarding the quantification of the cost of reputational risk. Was it simply something that...

19 Aug 2008
Operational Risk Management
Stanley Epstein

Something is rotten ....

I have been watching unfolding events in the banking world with a sense of incredulity and rising trepidation. It's like watching a train crash in slow motion. It just seems like it is one debacle aft...

13 Aug 2008
Innovation in Financial Services
Stanley Epstein

Getting the business - risk equation right

Years ago when I first became involved in risk management in a large regional bank I was told to keep my nose out of the “business”. And what did “business” mean? Well, simply put – making a profit at...

03 Aug 2008
Operational Risk Management
Stanley Epstein

WHO IS REALLY TO BLAME?

Why is it that the minute something goes wrong someone or something has to be blamed? It almost seems that as long as a "guilty" party can be found then we have done our duty and can simply ...

31 Jul 2008