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Evolution in Risk Reporting: What's Next?Reprinted with the permission of CFA Institute The process of measuring, monitoring, and reporting risk has taken on increased importance during the past decade. In particular, the financial crisis of 2008-2009 highlighted the need for portfolio-level and firm-level risk management and hastened the pace of adoption of a formal risk management infrastructure for investment management firms. Author: Frances Barney
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A Clear Case for ChangeReprinted with the permission of Financial-i The move to central clearing for OTC derivatives is causing consternation, especially amongst fund managers, and many foresee changes in investor behaviour to avoid charges when the new regulations come into force. This article was first published in Financial-i Q2 2011. www.financial-i.com. Authors: Jonathan Bowler, Christopher Coleman
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Mitigating Collateral Damage: Current Themes in Managing and Mitigating Counterparty Credit Risk for OTC Derivatives (UK English)The financial crisis re-emphasised the importance of counterparty credit risk, and the subsequent industry-led program of reform has addressed many of the shortcomings of the OTC market. BNY Mellon and independent consulting firm InteDelta investigated current counterparty credit risk management policies and processes across a representative sample of asset management, insurance and pension fund institutions. Findings from this research reveal an evolving OTC derivatives market that is wary of risk, open to change, and surprisingly robust. Authors: Jonathan Bowler, Mark Higgins, Stephen Ingle, David Brown, Michael Schroeder, Chris Coleman, Patrick Tadie, John Templeton
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Mitigating Collateral Damage: Current Themes in Managing and Mitigating Counterparty Credit Risk for OTC DerivativesThe financial crisis re-emphasized the importance of counterparty credit risk, and the subsequent industry-led program of reform has addressed many of the shortcomings of the OTC market. BNY Mellon and independent consulting firm InteDelta investigated current counterparty credit risk management policies and processes across a representative sample of asset management, insurance and pension fund institutions. Findings from this research reveal an evolving OTC derivatives market that is wary of risk, open to change, and surprisingly robust. Authors: Jonathan Bowler, Mark Higgins, Stephen Ingle, David Brown, Michael Schroeder, Chris Coleman, Patrick Tadie, John Templeton
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International Financial Reporting Standards -- Are You Getting Ready for IFRS 9?The changes to accounting standards for financial instruments in IFRS 9 will have significant system and operations implications for organizations. The objective of this paper is to provide an overview of recent changes so that companies can gain a better understanding of the new and potential requirements and how their operations may be impacted. Author: Steve Burrows
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European Securities Settlement: Steps Toward HarmonizationThe evolution of the European Union (EU) has meant rapid integration across its member nations to form a more cohesive governance model. Much of this transformation has occurred in the financial markets, from the creation of the European Central Bank to the adoption of a common currency. As a way to bring about further harmonization among its various financial markets, European leaders have agreed that a uniform schedule must be implemented for trade settlement across the different EU nations. Author: Jim Cecere
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Money Fund Intelligence: Money Market Funds Ready to Transact Non-$1Reprinted with the permission of Crane Data LLC On October 31, the last directive in the SEC's Money Market Fund Reform amendments to the Investment Company Act will come into effect. Funds must be in compliance with a processing mandate requiring the fund to have the capacity to redeem and sell its securities at a price based on the fund's current net asset value per share, including the capacity to sell and redeem shares at prices that do not correspond to the stable net asset value or price per share. Jim Cecere, Managing Director of Global Product Management for U.S. Financial Institutions, discusses the issues and challenges of the new regulation. Author: Jim Cecere
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Risk Appetite at the CrossroadsReprinted with the permission of SourceMedia, Inc. In light of recent market volatility and dramatically changed investor risk appetite in the wake of the recession, Jim Cecere, Managing Director for Global Product Management talks about the changes in the types of products asset managers are launching and other trends in the marketplace. Author: Jim Cecere
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Money Funds at Continued Cross RoadsReprinted with the permission of SourceMedia, Inc. Given the authority granted to the Financial Stability Oversight Council and the Federal Reserve by the Dodd-Frank Act, these regulators have been provided with a broad brushstroke to implement financial reform. With the intention of creating a stronger and more stable money market, the impact will most likely be increased oversight, further reporting requirements and more stringent guidelines designed to reduce potential systemic risk by a nonbank financial company. Author: Jim Cecere
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Global ViewReprinted with the permission of Euromoney Institutional Investor PLC In a recent interview with Global Investor, Nadine Chakar, global head of BNY Mellon's Derivatives360 business, explained how the business -- which spans the entire life of a derivatives transaction -- is developing and offered her reaction to regulatory reform. Author: Nadine Chakar
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