Since when did budgeting become a process that companies dread? Just say the word “budget,” and you’ll elicit at least a few groans or eyerolls from teams outside of finance. It’s daunting: the weight of the next few years rests on a couple of forecasts, financial projections and line-item lists. As a result, cross-functional teams are under a lot of stress to ensure that their cases and arguments are heard. In some ways, the budgeting process almost feels combative.
For many organisations, closing the books at the end of a financial period remains a time-consuming, cumbersome and stressful process with late nights for staff and seemingly endless re-checking of information.
Published By: Delphix
Published Date: Jun 27, 2014
Executing financial stress tests mandated by C-CAR, EMIR, MiFID and other regulations is a lengthy, complex process that eats into budgets and erodes productivity across IT and lines of business. Learn the 3 ways Delphix alleviates these growing burdens throughout the typical compliance lifecycle.
Change is inevitable. Any successful business manager knows their organization must continually evolve to stay relevant and competitive. Whether it’s the packaged goods company that has reached the limits of its market, or the financial giant integrating a new software platform, or the global corporation building teams, adaptability is imperative. Having resilient employees that are open to change and better equipped to cope with stress is key.
But it may surprise you to learn who among your employees will weather the storm and who won’t. The Chief Technology Officer? Or the lead on the innovation project? Your top analyst? While some managers understandably assume that their highest earning, most highly educated employees are all highly resilient, they may need to think again.
A study from meQuilibrium, the only clinically validated resilience building program on the market today, conducted by behavioral scientist Wendy Lynch, Ph.D., and psychologist Andrew Shatté, Ph.D., shows that a
Download this report for an in-depth analysis of trends in customer experience management strategies for financial services companies. The study was developed using independent research and survey responses from 100 senior-level leaders across marketing, customer experience management, analytics, digital strategy, and innovation roles.
After identifying key market stressors, the report analyzes the five key drivers of successful customer engagement: Customer Understanding, Prioritization, Design, Measurement, and Culture.
Published By: Delta Risk
Published Date: Jun 07, 2016
Recent high profile, high impact cyber breaches at some of the largest financial institutions in the United States have highlighted the fact that boards of directors need to take an active role in the management of cyber risk. This Viewpoint offers the Delta Risk perspective on how boards should engage in the management of cyber security risks, stressing four priority activities.
Since the global financial crisis of 2008, stress tests have taken on growing importance and prominence in financial institution supervision and regulation. These tests, designed to measure an institution’s ability to maintain capital buffers and withstand extreme economic shocks, were imposed initially, and primarily, on the biggest multinational firms – those designated global significantly important banks (G-SIBs) or financial institutions (G-SIFIs). However, the circle for supervisory stress testing has widened to include a growing number of banks as defined by domestic jurisdictions – in the United States, for example, down to banks with $10 billion in assets under the Dodd-Frank Act Stress Test (DFAST) rule. What’s more, stress tests and their underlying scenarios can be of considerable value as a strategic management tool to a financial services company of virtually any type or size.
Published By: Actimize
Published Date: Oct 10, 2007
According to the results of Actimize's 2007 Employee Fraud survey, which was managed by Infosurv, an independent research company, financial services institutions know that they have a significant and growing problem with employee fraud and are not fully prepared to handle the threat as attacks from organized crime, dissatisfied staff and financially distressed employees become more sophisticated.
Banks and financial institutions have faced a spate of regulations centered on capital adequacy since the financial crisis started in 2008. The Basel Committee on Banking Supervision (BCBS) initiated a series of reforms to strengthen risk, capital and liquidity rules across banks. Among the important changes recommended are new rules for calculating Tier I and Tier II capital and the inclusion of additional risk measurement components for market risk, liquidity risk and counterparty risk. Despite these changes, a key drawback of the Basel framework is its focus on historical capital adequacy. While being useful, it does not help assess the impact of stress events on banks from an ex-ante basis. Hence regulatory agencies in several jurisdictions have mandated banks to define a forward-looking capital plan that incorporates stress scenarios.