risk
“The shared responsibility model isn't working. It should be about shared action."
"The financial sector’s interconnectedness has the potential to spread disruption widely and quickly, affecting households and businesses."
90% of controls on one trading desk were manual and key processes including trade pricing were "conducted manually, predominantly, in Excel spreadsheets..."
Executives are getting more worried about the risk of being too dependent on one cloud. But the dominance of the cloud giants makes it hard to avoid.
Rules demand "a significant uplift in terms of new data sourcing... IT leadership will need to carefully manage cultural and technical integration between internal risk and compliance teams"
Fed says warns tech may have changed the pace of bank runs, points to "textbook" mismanagement
XBRL filings would help investors evaluate public companies' resilience, incident reporting
"Multiple gaps in the controls framework at every stage of the process..."
CEO comes with a reputation for prescience, after spotting "London Whale" issues...