Exposure to changes in interest rate, currency, equity and commodity markets is a fact of life but effectively measuring and managing those risks can mean the difference between profitability and loss. Selecting the product and risk hedging strategy that makes sense for a particular company and situation requires care and a solid understanding of the financial instrument tools ... [full story]
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St. Paul, MN, July 15, 2008 -- Powel Inc. announced that it has formed a partnership with URMC to deliver empirical, risk-specific inventory and analysis data within a hosted service to utility companies. Under the agreement, Powel will integrate its software suite into URMC's utility-focused risk management solution, allowing for the customization of Powel's software to better serve URMC's customers. ... [full story]
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Univa UD CEO Jason Liu will lead a session at the CIO Business Continuity Forum on Tuesday, July 15th, discussing the characteristics, benefits and enabling technologies of grid, utility and cloud computing. This session will provide beneficial information to attendees looking to understand this technology as a business proposition. Produced by CIO and CXO Media as part of their ... [full story]
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Risk management is one of the essential phrases in project management these days so I’m going to go out on a bit of a limb when I suggest that it’s actually not that important. Understanding the concepts of risk management will be useful for you but I have rarely, if ever, seen it used properly. The basic concept of ... [full story]
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Triple Point Technology®, the leading global supplier of cross-industry commodity and energy trading, risk management and logistics software solutions, announced today that Seaboard Overseas Ltd, the eminent food processing and ocean transportation company, has selected Commodity XL for Agriculture™ to manage its commodities trading and risk operations. Seaboard Corporation has been in business for over 90 years and employs ... [full story]
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Risk Management Solutions (RMS) has unveiled its new portfolio management platform, Miu, which supports the trading of insurance risk using RMS' leading catastrophe risk analytics. A bulletin from RMS' London office said: "Miu allows users to quickly quantify and tailor a portfolio of catastrophe risk positions packaged in any form: catastrophe bonds, over-the-counter (OTC) derivatives, sidecars, industry loss warranties ... [full story]
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Visionet's MERM is a workflow and rules engine based system used to Define, Measure, Analyze, Improve & Control (DMAIC) and report on operational risk performance of a mortgage business. Visionet recently finished an end-to-end rollout of the system at another top 10 mortgage bank. The system is being used to monitor underwriting practices, ensure quality, track deficiencies, manage repurchases and ... [full story]
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According to many independent surveys, IT project failure is endemic - with a recent study by the Information Systems Audit and Control Association (http://www.isaca.org/) of 400 UK IT professionals finding nearly half of IT projects never make it to full implementation because of a failure to deliver. Furthermore, according to a landmark 2003 KPMG survey, between 5 and 15% of ... [full story]
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Critical review of the situation in Nigeria over the years shows that one of the problems confronting the nation’s banking system has been that of poor risk management, says J. G. DonliDonli, director of research, Nigeria Deposit Insurance Corporation (NDIC). He disclosed this at the Risk Management Association of Nigeria (RIMAN) eight annual national conference/annual general meeting in Lagos. ... [full story]
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Lombard Risk Management Plc. said the overall profit in the second half was not sufficient to eliminate first half losses, so the group will report an overall loss for the year, but this will be 'substantially below' the loss reported in the 2007 financial year. The regulatory, risk management and valuation software provider said its revenues for the full-year ... [full story]
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Companies that produce, use, process or market nanomaterials are confronted with specific unknown risks inherent to these substances. A new tool by the Innovation Society and TÜV SÜD now also allows smaller companies, research institutions and retailers to gain a well-founded overview of the actual risk situation in their operations. The specific experience of the two partners guarantees that potential ... [full story]
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With a goal of getting IT professionals to use standard terminology and eliminate ambiguity in expressing important risk-management concepts, the Open Group is finalizing a 50-page compendium of "risk-management and analysis taxonomy." The Open Group Security Forum's risk taxonomy of about 100 expressions will not only address seemingly simple words such as threat, vulnerability and risk, but less common ... [full story]
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According to a new study conducted by BT Global Services, the Indian economy has overtaken developed markets when it comes to capitalizing on the benefits of risk management. The study, conducted by Datamonitor involving 2,000 senior executives in the US, the UK, France, Germany, Spain, Sweden, Brazil, China, India and South Africa, revealed that 90 percent of Indian enterprises ... [full story]
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The increased volatility in the global commodities markets will lead to greater spending on risk management IT, according to Datamonitor. The London-based market analyst says demand for oil and raw materials in rapidly developing areas of India and China is offsetting the downturn in the U.S. economy and spurring the growth of commodities trading volumes and prices. Further, the ... [full story]
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IFC, a member of the World Bank Group, has launched a seminar series in Russia to help improve the banking sector’s risk management and capital allocation practices. The initiative targets mainly midsize and regional Russian-owned banks, as well as the broader banking sector. The first seminar, “Liquidity and Interest Rate Risk Management in the International Practice,” was held in ... [full story]
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Trintech Group Plc (Nasdaq: TTPA - News), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced that it has been named a "Cool Vendor" in the Gartner report titled "Cool Vendors in Compliance and Risk Management, 2008", published on April 24, 2008. Trintech was included in the report by Gartner analyst John ... [full story]
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James Carrick, investment strategist at Legal & General Investment Management, said: "While the Bank of England anticipates below-trend growth in 2008 and a recovery in 2009, our recession predictor is suggesting concern." Mr Carrick explains that, despite a weaker pound, more indicators today are signaling danger than before the 2001 economic downturn. He said: "The economy is borrowing more ... [full story]
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The Australian Securities Exchange (ASX) welcomes the conclusion in the Reserve Bank of Australia’s (RBA) Review of Settlement Practices for Australian Equities, released today, that current settlement practices have served the Australian equity market well over a number of years. Mr Colin Scully, ASX’s Group Executive, Operations said: “ASX Settlement and Transfer Corporation has processed rapidly rising levels of ... [full story]
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The Planet, the world’s largest privately held dedicated hosting company, today announced that it will host the Houston Techxans quarterly CIO speakers forum at its world headquarters in Houston. Scheduled for May 15, 2008, from 7:30 a.m. to 11:30 a.m., the event – titled “IT Compliance and Risk Management: Bridging the Gap on Governance, Risk and Compliance” – features leaders ... [full story]
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Though calm seems to have returned to credit markets roiled by nine months of financial turbulence, the expectation remains for the increasingly activist Federal Reserve to increase its patrols of the financial system. Fed Chairman Ben Bernanke spoke Thursday in Chicago about the origins of the credit turmoil, which he traced to a series of institutional risk management failures. ... [full story]
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Risk management has joined the performance, philosophy and pedigree of hedge fund managers among the key criteria for investors in manager selection, according to the sixth annual Alternative Investment Survey undertaken by Deutsche Bank's hedge fund capital group. According to Sean Capstick, the London-based global co-head of the group, risk management has been gaining in importance as an investment ... [full story]
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Island ‘premier destination’ for insurance industry: Cox Those who manage risk in the insurance industry go far beyond professionals who have the word 'risk' in their title. That's one of the ideas that Finance Minister Paula Cox shared with the several thousand attendees of Annual RIMS (Risk Insurance Management Society) Conference, taking place in San Diego this week. ... [full story]
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UBS, which has written off more bad debt from the subprime crisis than any other bank, acknowledged Monday that a blind drive for revenue had led it to take many more risks than it should have. The largest Swiss bank published a 50-page report two days before a shareholders' meeting where it will seek permission to shore up its ... [full story]
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UBS AG, Switzerland's biggest bank, said senior management of its investment bank only recognized the severity of its subprime problem in late July. ``It appears that the investment bank management did at no stage conduct a robust independent assessment of its overall subprime exposures,'' the Zurich-based company said in a report on its Web site today. ``Consequently, group senior ... [full story]
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The acronym GRC (governance, risk and compliance) has become a boardroom buzzword. The reasons? First, there are growing governmental and industry-specific compliance and security regulations. Next, there's the immediate need to effectively manage and mitigate the mounting business and operational risks associated with competing in a complex global market. Traditionally viewed as separate operational silos, organizations are increasingly converging governance, ... [full story]
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Since the bloodbath on wall street began almost every major piece in the press has mentioned Goldman as the shining example of great risk management. All these articles imply that other firms do not have practices, people, or a risk management culture that apparently Goldman possesses. However, no one has come out and said what exactly Goldman does that differentiates ... [full story]
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State Street joins the chorus of firms calling for increased focus on risk management as the bank addresses its off-balance sheet exposure to the subprime mortgage market. The U.S. custodian bank has appointed Maureen Miskovic to the newly created position of Chief Risk Officer. Miskovic, who is to report to State Street Chairman and CEO, Ronald Logue, will lead a ... [full story]
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ConAgra Foods, Inc., (NYSE:CAG), announced today that it has reached an agreement to sell its commodity trading and merchandising operations conducted by ConAgra Trade Group to the Ospraie Special Opportunities fund and other investors for approximately $2.1 billion, subject to certain adjustments. The Ospraie Special Opportunities fund is an affiliate of Ospraie Management, a leading investment management firm focused exclusively ... [full story]
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IT risk monitoring has become a real-time requirement for financial institutions - Societe Generale's USD 7 billion in fraud losses provide wake up call. Vigilant, LLC, the leading provider of IT Risk, SIEM Integration, and Co-Sourcing Services to the Fortune 1000, today announced the release of their latest technical white paper, analyzing the recent Societe Generale fraud case and ... [full story]
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Alan Greenspan himself wrote an essay for the Financial Times titled "We Will Never Have a Perfect Model of Risk", which perfectly sums up the incredible stupidity of this man who used the Federal Reserve to destroy this country. In his essay, Greenspan starts out by saying, "The current financial crisis in the United States is likely to be judged ... [full story]
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Insightful Corporation (NASDAQ:IFUL), a leading provider of predictive analytics and reporting solutions, announced today the company will be exhibiting at the GARP 2008 conference in New York City from February 26, 2008 through February 27, 2008. Insightful will be exhibiting in booth 29 throughout the conference at the Marriott Marquis Hotel. Insightful brings 20 years of experience in advanced ... [full story]
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today announced that Websense® Chief Information Officer Jim Haskin and Websense Data Security Suite customer Sallie Mae will present on data loss prevention strategies at the Gartner Compliance and Risk Management Summit held at the Sheraton Chicago Hotel and Towers in Chicago, March 3-5, 2008. The Gartner Compliance and Risk Management Summit brings together industry experts, vendors and organizations ... [full story]
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