Whitepapers

The Risk & Compliance Platform Europe offers a qualitative online database with white papers, case studies and best practice articles on risk and compliance. This free information is used by many professionals to inform and orient a possible purchase or policy decision.

Do you want to publish your white paper / case study / best practice article on the Risk and Compliance Platform Europe? Simply send an email to info@riskcompliance.nl including your contact details and a brief summary of your proposed article. Our editorial staff will contact you as soon as possible to discuss the options for publishing your document / article.

Visitors to the Risk & Compliance Platform Europe can download any white paper / case study / best practice article for free. This service is intended for those with a professional interest in risk and / or compliance.

The European Union fourth Anti-Money Laundering Directive

When the 4AMLD was enacted on June 25, 2015, the European Commission established a 2-year window for implementation by EU Member States. A 2016 amendment to the Directive identified additional “obliged entities” and shortened the implementation deadline by six months.

EU Member States are now transposing it into their national laws and all “obliged entities” must have compliance programmes in place to mitigate risk. Věra Jourová, the EU’s commissioner for Justice, Consumers and Gender Equality said: “The update of the Fourth Anti-Money Laundering Directive will prevent any loopholes in Europe for terrorists, criminals or anyone trying to play with taxation rules to finance their activities. ”

A Deeper Look at the 4AMLD : Naturally, the 4AMLD focuses on traditional financial services organisations such as credit and financial institutions, but the list of “obliged entities” from the original Directive also includes other professionals.

Certification of Credit Risk Management

CO.E.RI.KOSMOS SRL located in Turin, has been working in the field of Credit Risk Management for over 30 years.

Since 2016, CO.E.RI.KOSMOS is the scheme owner of the standard template CRMS FP 07: 2015. This is the first standard template for the Certification of the Commercial Credit Management System approved by “Accredia (MISE)” under the requirements of the European Application Document EA-1/22 – AB: 2015.

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How companies should respond to the ever-changing world of sanctions risk

Around the world in eight sanctions regimes

Sanctions are imposed on regimes, entities or individuals by governmental and intergovernmental bodies, in the hope of curbing or changing their behaviour. They come in many forms, including asset freezes, flight bans, and restrictions on trade and other financial transactions. These bodies regularly publish and update their sanctions lists, which presents a significant risk of an unintentional breach to companies of all sectors that trade internationally. If a firm breaches sanctions, it can expect to face serious legal, financial and reputational repercussions. Punishments can include a civil or criminal legal conviction, a large regulatory fine, or a ban on bidding for future national or World Bank contracts.n the last few months alone, sanctions around the world have changed significantly. To measure the current extent of these changes, LexisNexis Business Insight Solutions has compiled this report with the latest information on sanctions regimes at governmental and intergovernmental level. The report focuses on how sanctions have changed in eight countries: the US, UK, Russia, Iran, Myanmar, Cuba, Democratic People’s Republic of Korea (North Korea), and the Democratic Republic of Congo (DRC). The report goes onto look at the steps companies can consider to mitigate the risks of breaching sanctions.

In Search of a Single Version of the Truth: Adopting a Universal Data Model

Firms today require access to unprecedented volumes of data to meet growing demands for transparency and integrity across all their business activities. Operational needs and regulatory requirements are driving rigorous data sourcing, collection and integration efforts. The task is made more complex and expensive by the need for data that is consistent with the business, finance and risk management activities of the institution. In short, the need to obtain the much discussed ‘single version of the truth’ has never been more pressing.

Our newest paper looks at the challenges of addressing multiple regulatory requirements while striving for increased profitability. It explains how firms can normalize their internal data collection processes – and retain the flexibility they need to support the finance and risk functions, and business activities across the enterprise – by adopting a universal data model.

Wolters Kluwer

IFRS 9: Unexpected Gains from Expected Losses

To follow IFRS 9 protocols, firms will be required to exercise judgment throughout the organization, evaluating internal developments and the wider economic and financial backdrop. The unique skills, perspective and outlook that each department, most notably Finance and Risk, brings to the task makes it one that’s best accomplished between them, working together, not just within them.

This is when the collaborative thinking incorporated into IFRS 9 will reveal its value most clearly. Our latest white paper outlines how – if all centers of leadership act in concert – an institution can comply successfully with, and benefit from, IFRS 9.

Stress Testing : Putting the Pieces Together to Solve an Increasingly Intricate Puzzle

As stress testing around the world becomes increasingly intricate, more and more is being asked of firms to have the systems in place to monitor activities, gather data and apply models to analyze it. But is the industry confident it is where it need to be? When a poll of market participants who attended our recent stress testing webinar was asked: “Are you comfortable you can leverage your legacy systems to fulfil these stress-testing requirements?” 14 percent offered an unqualified “yes” and 32 percent an unqualified no; the remaining 54 percent declared themselves “not fully comfortable”. This whitepaper gives a comprehensive overview on the changes in stress-testing practices over the years, the differences in the regional regimes and addresses whether testing 2.0 can be executed effectively with system 1.0.

Guideline Data Acquisition for Investigation Purposes

IT security incidents sometimes are of such nature that the organisation affected by the incident wants to pursue prosecution. However, often the facts are not necessarily immediately communicated to the police for a variety of reasons, including the fact that the ir scope and nature is not clear from the beginning. For prosecution to be successful, the chain of custody needs to be preserved in a legally accepted manner, which requires the evidence to be preserved immediately after the detection of the incident.

It should be noted that communication to law enforcement authorities must be made as soon as possible after discovery of the facts given the volatility of traces and actions that could be taken (Internet identification, etc.). The purpose of these guidelines in this white paper is to help IT services to preserve evidence in an IT security incident in such a way that the investigation by IT security experts or law enforcement authorities can be carried out in an optimal manner.

Endogenous Instability

Financial Risk Management is strongly hindered by the conventional macro-economic vision of the world, assuming stabilising cyclical processes, that are once in a while temporarily taken out of equilibrium due to external shocks. Reality is much more hectic and has more similarities with debt-driven instability created from within the economy. This results in much more severe market crashes and deeper depressions than conventional theory teaches us. This is the theory of Endogenous Instability.

Is an outdated investment management system damaging your business ?

Legacy issues will always be there, even in an outsourcing relationship. What is important for asset managers and their operations teams is that they are able to spot the signs of impending legacy and are prepared for the necessary changes. The following report is designed to help you identify these signs and give you some ideas about how to replace any outdated technology.

Time to get real on culture ! Restoring trust in the financial sector

 

To restore stakeholder confidence, financial institutions need to connect with their core purpose and embed a culture that values the needs of stakeholders. This publication provides practical guidance on how financial institutions can bring their core purpose to life and work both from the ‘inside out’ and the ‘outside in’ to rebuild trust.

Although this research was conducted in the Netherlands, these outcomes are relevant to organisations worldwide. In the research for this publication, we conducted a number of in-depth interviews with supervisory board members, senior managers and external regulators. Many of those interviewed recognised the ongoing struggle to restore customer and public trust, the difficulties of achieving this change and the need for strong leadership to build and sustain momentum.