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Across financial services institutions globally, governance, risk, and compliance strategies are being seen as the answer to delivering company value in an increasingly volatile marketplace and constantly evolving complex regulations. GRC activities are being integrated and aligned in order to avoid conflicts, navigate risks, meet compliance requirements, and create a risk resilient business culture.

Acknowledging these current industry challenges, FSOkx invites senior executives to our Second Annual GRC Event – Governance, Risk and Compliance in Financial Services on March 24, 2015 in New York. Join the industry experts as they provide a fresh perspective on emerging trends and best practices that help organizations meet enterprise-wide GRC requirements and make them an integral part of the planning processes and strategic framework.

  Saad Aslam :-  Global Head of Credit Policy, Risk Review and Credit Risk Regulatory Interaction , Credit Suisse

Amanda Barkus :-  Senior Vice President, Americas Head of IT Strategy and Operational Effectiveness , HSBC

Candace Bocci :- Head of U.S. Credit Stress Testing/CCAR, BMO Financial Group

Edina Cavalli :- Assistant Vice President, Enterprise Dodd-Frank & Regulatory Reform Liaison, TD Bank

James Finnerty :-  Senior Vice President and Associate Deputy Global Anti-Money Laundering Officer-US, TD Bank

Stephan Meili :-  Global Head of Market Risk for Securitized Products Trading and Muni Derivatives, Barclays

Kevin Pemberton :- Senior Vice President, Neuberger & Berman

Denise Wright :-  Head of Anti-Money Laundering and Sanctions Compliance, Rabobank

Annie Searle :- Lecturer, University of Washington

 Discussion Topics Include

  Regulatory stress testing – using stress testing to effect strategic change

Cyber Security – More of a Business Issue than just a Technology Issue

Anti-money laundering (AML) and know your customer (KYC) norms and best practices

Planning for catastrophe: How banks can develop “living wills"

Managing risk with operations and technology solutions

FATCA compliance: a challenging responsibility for participating foreign financial institutions (PFFIs)

Mortgage Servicing Game – Survival of Smaller Players in radically changing Market

Regulatory reform: A look at key changes reshaping the derivatives market

Challenges, solutions and opportunities in collateral management

Assessing third-party relationships under the new regulatory regime

 Link to the Event:

The industry landscape for hedge fund industry continues to evolve and thrive. The changes that took place during the past few years have led to a number of challenges and opportunities for firms within the industry. Today, investors continue to demand more transparency, intensive due diligence and separately managed accounts. To compete and win within such environment, one needs to be well equipped with transformational business strategies, robust operational infrastructure and controls, effective risk management and integrated distribution/marketing channels. With a special focus on operational due diligence, technology, risk management, sales and marketing. This one day premier event provides the perfect opportunity to network with industry’s finest experts and practitioners to discuss overall outlook for the industry, range of product and investment strategies, and growth opportunities that lie ahead for the industry.

  Discussion Topics will Include

  New Growth Opportunities for the Asset Management Industry

Cost and Opportunity Analysis of Regulatory Compliance for Asset Managers

Best Practices to Meet the Current Retirement Challenges

The Changing Client Marketing, Sales, Distribution, and Servicing Tactics

Managing Growing Business Complexities within the Hedge Fund Industry

Effective Risk Management with Right Operations and Technology Solutions

Driving Asset Flows with Business Intelligence and Active Marketing and Sales Management

FSO Knowledge Xchange will once again host the Dodd-Frank Act symposium on November 13th, 2013 in New York. During this one-day event designed for senior level executives, industry experts will provide the latest regulatory updates on transformative legislation including the Consumer Financial Protection Bureau (CFPB) and Volker Rule and describe how these regulations will impact and ultimately change long-established business and operating models in the capital markets industry.

Additional topics include new clearing and trading ecosystems, effective collateral management, stress testing, reporting for competitive advantage, and risk management.

The 4th Annual Business Process Management and Technology Innovation Forum, hosted by FSO Knowledge Xchange, will facilitate the financial services executives with the knowhow of successful BPM practices and how rapid maturation of BPM technologies can help transform business. This premier one-day event for the financial services industry (banking, insurance and capital markets) brings together industry experts, senior decision-makers, and thought leaders to share and discuss their insights and best practices in an environment that encourages participant interaction and networking.

  Key Topics

·  Intelligent Business Processes: Are you Ready?

·  Creating the Next-Gen of Center of Excellence

·  Transform your Operational Efficiency with BPM

·  Collaborative Technologies and BPM: A Recipe for Success

·  Mission Possible: Capitalizing on Big Data with BPM

·  The Path for Effective Risk Management and Compliance via BPM

·  Aligning Six-Sigma with Business Processes to create Process Excellence

·  Get Smart: Innovating your BPM Models and Practices

  Who Should Attend

  The Business Process Management and Technology Innovation Forum is designed for senior management of financial services firms including:

·  C- Level Executives - COOs, CIOs, CTOs, CEOs, CAOs

·  SVP, VP, Managing Directors

·  Directors, Operations Managers

·  Process Re-engineering Executives

·  Performance Measurement Officers

·  Technology Officers

·  Innovation Leaders

·  Strategy/Transformation Executives

·  Heads of Procurement

·  Lean and Six-Sigma Experts

·  Front, Middle and Back Office Operations Managers

·  Deployment Leaders and Champions

  Venue:-

The Yale Club of New York City‎

50 Vanderbilt Avenue

New York, NY 10017

FSO Knowledge Xchange To Host FSOkx’s 7th Annual Financial Services Outsourcing Forum with Excellence Awards

A Premier one-day event boasts outstanding speaker line-up, interactive discussions, and annual FSOkx Excellence Awards

New York, NY - May 02, 2013: Industry experts from Lord Abbett & Co., Credit Suisse, Citi, HSBC Group, Hudson Valley Bank, Northfield Bank, New York Community Bancorp, Inc, Longbridge Investments LLC are among the distinguished speakers at FSO Knowledge Xchange's  7th Annual Financial Services Outsourcing Forum with Excellence Awards to be held on June 6, 2013 at the Princeton Club of New York.

During the event, FSOkx will present the FSOkx Excellence Awards to recognize firms with outstanding performance in the following areas:

Excellence in Risk Management and Compliance

Excellence in Business Process Management

Excellence in Performance Measurement

Excellence in Data Management

Outsourcing Deal of the Year in Financial Services

"The industry is facing headwinds amid intense regulatory and cost pressure in addition to the global economic uncertainty. Success in such a challenging environment can only come by implementing transformative technologies and business models," said Rekha Vatsa, Executive Director, FSOkx. "We're excited to bring together technology and business executives from a wide variety of financial firms to share their insights and best practices for leading their firms through their transformation journey."

Topics covered during this one-day event include capitalizing on big data, effective risk management strategies, regulatory compliance, innovative technologies, transformative business and outsourcing strategies for financial services industry.

For complete event details and registration information, please visit: 

http://www.fsokx.com/Event/EventArticles.aspx?evId=38

  Registration is complimentary for delegates from the banking, insurance, and capital markets industries.

    About FSO Knowledge Xchange

FSO Knowledge Xchange is a global research and information hub providing insights to the banking, insurance, and capital markets industry. FSOkx’s leverages research, events, and advisory services to empower senior-level financial industry executives with the knowledge they need to optimize global resources, achieve operational excellence, guard against technology obsolescence, innovate and improve business processes, adopt best practices, and transform their organizations. For more information, please visit http://www.fsokx.com

    Contact Details: Ann Gallagher

From Meltdown to Transformation : Facing the Next-Generation of the Mortgage Industry is a one-day symposium that brings together practitioners and industry experts to discuss transformation strategies that can drive the highest possible value to all stakeholders. Share insights, deepen your understanding of what factors contributed to the mortgage meltdown, and address the specific changes your business will need to make to strengthen the industry and propel it into the future.

Register now @

By and large, financial regulations are targeted for national implementation and have very little impact on other countries. However, U.S. regulatory reforms such as the Foreign Account Tax Compliance Act (FATCA) and the Dodd-Frank Act will have far reaching effects on the global financial landscape. As deadlines for implementing these regulatory requirements approach, many global firms are scrambling to understand how U.S. regulations will impact their business operations, risk, technology, and compliance.

FATCA, which is focused on tax evasion and requires all foreign financial institutions to disclose information about their U.S. accounts, has a broad yet ambiguous scope. Industry experts estimate FATCA compliance costs at 5 to 10 million USD per firm and for some firms the cost could jump to 100 million USD. In addition, according to KPMG, many U.S. financial organizations are limiting investment offerings to foreign investors and may also close client accounts that are not compliant with the new requirements.

Title I of the Dodd-Frank Act which relates to financial stability and systemic risk, Title VII which involves a new regulatory regime for derivatives and swaps, and the Volker Rule are game changers for the global financial markets. These acts also affect individuals and businesses that remit funds from the U.S.

It’s hardly been a month since financial investor’s confidence experienced a major set-back due to the Libor scam yet again another scam has surfaced bringing big banks, namely Standard Chartered Bank (SCB), Deutsche Bank, Royal Bank of Scotland (RBS), and Commerzbank into the crossfire. The U.S. Justice Department and the Manhattan District Attorney's office are investigating the banks for allegedly using U.S. branches to move billions of dollars in Iran-linked transactions.

SCB was fined USD 340 million for maintaining false records and handling lucrative wire transfers for Iranian clients. According to reports, from 2004 to 2007, the bank was caught red-handed for many regulatory compliance failures related to the Bank Secrecy Act, anti-money laundering policies and regulations of the U.S. Office of Foreign Assets Control.

SCB ensured anonymity of Iranian U.S. dollar clearing activities by rigging SWIFT wire payment directions through its New York branch. The bank earned millions of dollars in fees when making restricted trades.

As a part of settlement, SCB has agreed to deploy a monitoring team for at least two years to audit the bank’s internal procedures. Deutsche Bank, RBS and Commerzbank are under tight scrutiny with the facts are expected to be revealed soon.

U.S. authorities recognize that such scams have exposed the vulnerability of the financial services industry to terrorism and will make the global economy more volatile. These scams are quite alarming and have the potential to rock investor confidence.

Lisa Valentine  July 25, 2012 

The consumerism of IT continues to change how financial services organizations do business and interact with customers as people become increasingly dependent on tools and technologies such as smart phones, cloud computing, social media, and instant messaging for everyday communication, collaboration, and work.

Financial services organizations have a wide range of technology choices to interact with their customers anytime and anywhere and many have widely deployed these tools for client servicing, product/service marketing, information dissemination, and efficient business process management beyond traditional office and network boundaries. However, a number of regulatory challenges must be identified and managed to fulfill Governance, Risk and Compliance (GRC) requirements.

FSOkx’s upcoming report "Collaborative Technologies and the Impact on GRC: Balancing Risk with Rewards" will explore the impact of new technology on GRC practices. The report will include online survey findings and interviews of senior financial services executives to evaluate the strategies and policies that banks, capital markets, and insurance firms have implemented to meet the GRC challenges of new tools and technologies.

We invite you to participate and contribute your thoughts by filling out this short survey. You’ll receive an Executive Summary of the survey results as our thank you for participating. I’ll be reaching out to some of you for one-on-one interviews. Please know that all your responses remain anonymous and in strictest confidence.

Barclays’ recent Libor (London Inter-Bank Offer Rate) scandal has revealed the ability of big banks to fix the index or benchmark rate. Libor is the main index banks use for borrowing and lending purposes and includes a series of rates set daily by a group of international banks in London. It’s the base for the loans, securities, and derivatives market worth USD 550 trillion. Barclays was fined USD 453 million by British and the U.S. authorities for manipulating the Libor rates from 2005 until 2009.

Authorities uncovered a trail of emails, messages, and phone calls in which Barclays’ treasury office submitted optimistic estimates of their borrowing costs to the British Bankers’ Association. These communications clearly depict Barclay’s mistreatment of its costs to elevate its stature during the peak of the global financial crises. The bank tailored its Libor figures to meet the needs of its trading arm rather than provide accurate estimates. It is feared that many other banks and financial institutions have submitted devious estimates of their borrowing costs as well, thus distorting the entire structure of global interest rates.

The scandal has not only led to the resignation of some of the bank’s top executives, but the S&P also downgraded Barclay’s credit rating to negative. In light of the Barclay’s debacle, serious concerns remain about other giant banks and financial institutions that may have used regulatory loopholes for their own interests. In addition, investors lost faith in the integrity of the markets and are pulling back.