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The recently proposed rule for implementation of Basel III Endgame includes revised calculations for capital requirements and other expectations as it relates to #OperationalRisk. Learn more in the latest article from FORVIS.
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Which roundtable discussion did our enthusiastic delegates choose today? What was the most popular topic? Check out the video below! Roundtable 1: Is AI taking my job – or – is it making me better at it? Discussion Leader: Charmian Simmons Roundtable 2: Fostering Resilience: Building an Ecosystem to Prevent Financial Fraud in the Wake of Wirecard's Technological Challenges Discussion Leader: Maria Kisselev Roundtable 3: Glass Box instead of Black Box: Unlocking transparency and model validation for sanctions screening systems Discussion Leaders: Pascal Aerens & Christopher Stringham Roundtable 4: Top considerations in Future-Proofing an AI Strategy and potential “quick win” Use Cases to help accelerate adoption & ROI for (Generative) AI? Discussion Leader: John Stewardson *Tables 1-4 are in the Liberty Foyer (1st Floor)* Roundtable 5: KYC & Onboarding Innovation Discussion Leader: Aoife Doyle Roundtable 6: Data Driven Relationship Analysis Discussion Leaders: Dr. Robert Schmuck & Janina Uspelkat Roundtable 7: Fraud detection and AML: from defensive to offensive Discussion Leader: Wiebe Fokma, CAMS Roundtable 8: pKYC: Digitally transforming risk and compliance Discussion Leader: Chor Teh & Enrico Aresu, Dipl.-Ing., MBA, CAMS Roundtable 9: AML Trends, Mules and Hot Topics Discussion Leader: Nick Parfitt Roundtable 10: Evolution & use of new technologies in detection & investigation in transaction monitoring Discussion Leader: Muken Ladva #Transformfinance Transform Finance DACH, Hilton Frankfurt, 19th October 2023.
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BASEL III IMPLEMENTATION IN SWITZERLAND: CHALLENGES FOR THE BANKS AND THE SYNERGY OF CURENTIS' EXPERTISE 🏦💼 As already explained in our article from July 8, 2024 (THE SWISS FEDERAL COUNCIL CONFIRMS IMPLEMENTATION OF FINAL BASEL III STANDARDS ON JANUARY 1, 2025 🇨🇭🏦), the new Basel III standards will come into effect in Switzerland on January 1, 2025. From the perspective of the Swiss Bankers Association, this regulation reduces the competitiveness of the Swiss banking sector 📉. This is due in part to the challenges that the implementation of Basel III brings to Swiss banks: 1. Complexity: The comprehensive changes affect all risk types and require extensive adaptation of risk management systems 🔄. 2. Model adjustment and data management: Changed requirements necessitate enhanced model governance and improved data management 📊. 3. Extended disclosure obligations: More detailed Pillar 3 reporting requires additional resources 📝. 4. Time pressure: Short implementation period until the effective date of January 1, 2025 ⏳. 5. Impact on lending: Potential adjustments to lending policies due to new capital requirements 💰. 6. Capital allocation: Need to review and potentially reallocate capital distribution 💼. 7. Project management: Recommendation to treat implementation as a standalone project with corresponding resource requirements 🚀. These challenges require significant efforts from Swiss banks in terms of resources, technology, and expertise for a timely and effective implementation of the new standards 💪. CURENTIS AG can provide valuable support in addressing these complex tasks 🤝. As a consulting company focused on regulatory requirements and implementation in the financial sector, CURENTIS possesses the necessary experience and know-how to assist banks in implementing Basel III 🧠. Our expertise in areas such as AML and Avaloq consulting can be particularly helpful in efficiently integrating the new regulations into existing systems and processes 🔧. #BaselIII #SwissBanking #FinancialRegulation #RiskManagement #BankingCompliance #FinTech #RegulatoryConsulting #BankingInnovation #FinancialServices #CURENTIS
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New Year, new goals? Before you start executing your 2024 plan, have you finished what you started last year? If ensuring compliance is on your list, then this post is for you. Regulations are not going away anytime soon. This year, challenge yourself to meet or even better beat the compliance deadlines and stay ahead of the competition and regulators. Show your senior stakeholders that you have a clear understanding of the regulations and the impact of Basel III on your organization. Solidatus can help you achieve this goal through our dynamic regulatory data blueprint that provides clarity and confidence by clearly illustrating the impact of Basel III on every layer of your organization. Don't let compliance be a daunting task, let Solidatus simplify it for you. Start the year off right by ensuring your organization is fully compliant. https://lnkd.in/ewKfyRJm #datagovernance #riskmanagement #regulations #baseliii #bcbs239
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White & Case is delighted to share its contribution to the LexisNexis UK Market Standards Trend Report, Trends in Public M&A in 2023, which examines the 56 firm offers, 39 possible offers and 11 announcements of formal sale processes and/or strategic reviews, which were announced between 1 January 2023 and 31 December 2023. To read the full analysis, please click here (sign-up required): https://ow.ly/zA4j50QwnPQ #LexisNexis #LexisNexisUK #PracticalGuidance #Corporate #MarketInsights #PublicMnA
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Exploring Basel Norms: The foundation of a stable financial system.🏛️💰Compliance with Basel Norms is more crucial than ever in today's interconnected world.🤝 This post includes: ➤ Introduction ➤ Objectives of Committee ➤ Different Basel Norms ➤ Pillars of Basel *To understand the concept of 'Too Big to Fail' institutions, used in Basel III please refer to my previous post. #BankingStandards #FinancialStability #BaselNorms #BaselAccords
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Customer Success Manager - LexisNexis Risk Solutions: Helping partners mitigate risk & increase profits through technology, data & solutions.
Learn how our robust suite of solutions, from regulatory compliance, synthetic identity fraud detection, to credit risk and collections, can complement and expand your existing portfolio. #LexisNexisRisk
Expand Your Existing Portfolio
risk.lexisnexis.com
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Let’s talk Corporate Intelligence (and see who is behind the camera)! 👀 You may require enhanced due diligence to be conducted on individuals you are considering hiring in Senior Executive roles, or an entity you are considering engaging with and would like to understand potential associated risks. Searches conducted may include background details, corporate registry and regulatory/listing status, adverse media, social media, litigation, sanctions, AML and other high risk searches. If you require enhanced due diligence to be conducted on individuals or entities, please reach out to myself, Megan Grubb or Virginia Cole.
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Switzerland Compliance & Financial Crime Market Trends - In November 2023, we hosted our first-round table event in Zürich, with a number of distinguished Heads of Compliance and Heads of Financial Crime in attendance. Here are some of the key takeaways: Financial institutions are grappling with multifaceted challenges in ESG (Environmental, Social & Governance) driven by heightened pressure from FINMA (Financial Market Supervisory Authority) to adopt sustainable practices and navigate the complexities of ESG criteria. Regulatory measures, exemplified by the EU’s SFDR (Sustainable Finance Disclosure Regulation), add layers of complexity, particularly for smaller firms defining ‘sustainable investment.’ Concerns about “greenwashing” and the difficulty of implementing effective controls without clear guidance extend beyond regulatory checkboxes. It was raised that when discussing ESG that DE&I (Diversity, Equity & Inclusion) can be overlooked and that prompting the recognition of diversity targets is crucial. Despite existing complexities, there’s a prevailing sentiment that ESG is a permanent fixture, calling for collaboration among firms. In Financial Crime, AML (Anti-Money Laundering) and sanctions, increased scrutiny and challenges from the EU’s new AML package pose uncertainties, leading to varied opinions on accountability dynamics and structural concerns as Compliance moves within the first line. The integration of AI (Artificial Intelligence) and Digital Transformation raises questions about effectiveness and transparency, sparking debates on ownership, intellectual property laws, and liability frameworks. Meanwhile, data privacy concerns and budget constraints may hinder robust AI implementation. In 2024, we envisage that companies will prioritise Compliance professionals with strong ESG implementation experience, robust Financial Crime knowledge, and data expertise. These skills are expected to be even more in demand by Banks and Asset Managers operating in Switzerland. For tailored solutions to your hiring needs in the current Switzerland Compliance & Financial Crime market, contact Isabel today. Her expertise and insights can guide you through navigating the current landscape and securing the right talent for your team. Isabel Anchebe Associate Director, Head of Compliance, Europe T: +44 (0) 20 3889 5758 E: ianchebe@danosassociates.com #compliancehiring #emeacompliance #swisshiring
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Wolters Kluwer updates OneSumX for Basel requirements. OneSumX for Basel covers standardised and advanced approaches across all risk types and bank sizes, and allows users to manage the reporting process from start to end https://lnkd.in/eGrDva3Y #fundadmin #Custody
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