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Holistic surveillance and the fight to prevent rogue traders - Webcast

29 April 2013  |  16451 views  |  1 Source: Finextra Dealing Room


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Nick Leeson, Toshihide Iguchi, Jérôme Kerviel, Kweku Adoboli - these are not random names - but instead names that still send shivers up the spines of many an investment banking CRO and shareholder board. Between them, these men are credited with losing up to $9.5 billion and taking down at least one bank.

Rogue traders – whether a sinister anomaly or part of systemic risk failures at a bank - exist in the financial world in far greater numbers than the infamous names above suggest. What is interesting about these cases, both those in the public eye and those which never attracted the attention of the media, is that whilst the little details change, and fresh nuances in the modus operandi do emerge from time to time, the overarching pattern of concealment remains relatively constant.

It is easy to assume that detection should be a reasonably easy pursuit. However, the financial world is desperately bracing itself for another loss event. How can banks monitor for these risks in an efficient way and prevent costly and highly public losses?

Finextra and SAS have put together a group of risk management experts to debate and discuss the merits of a holistic, entity-centric approach to trading room surveillance.

  • David Clark, chairman of the Wholesale Market Brokers' Association and the London Energy Brokers' Association
  • Simon Wheatley, risk and regulatory consultant
  • Shaun Mathieson, senior consultant, global banking & markets, SAS

Our group will discuss:

  • How are security and fraud risk exposure monitored when a bank has so many points of vulnerability?
  • What are the common KRIs that banks should be looking out for?
  • Who should be in control of these oversights at a bank and how much authority can they hold over the trading floor?
  • What are the challenges in building this type of infrastructure? 

Comments: (1)

Neil Crammond
Neil Crammond - DIVENTO FINANCIALS - London 04 June, 2013, 13:09

all their clearers were aware of thier positions ; the market was also aware of some of these large positions ; as market awareness is a key idicator is market abuse and manipulation .

  Sadly exchanges and regulators are not educated in "cheating " but more in educating !

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