Systems Risk
http://www.prmia.org/Weblogs/General/Patrick_McConnell/
"Systems Risk" is in the position that Operational Risk was a decade ago (pre Basel II) in that everyone knows that Information Technology is a major issue in Financial Services but the industry has not found satisfactory ways of analysing and measuring the associated risks. Many business surveys point to IT being of vital interest to Boards and senior management, but we (the IT profession) keep screwing up - I would argue because, in part, neither the IT function nor business has yet learned how to manage risk.2008-11-27T00:30:53+00:00Animal Farm
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/11/animal_farm.php
"All firms are created equal, but some firms are more equal than others" - Animal Farm]]>pjmcconnell2008-11-27T00:30:53+00:00Through the Looking Glass
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/11/through_the_loo.php
Alice in Wonderland: If you drink much from a bottle marked "poison" it is almost certain to disagree with you, sooner or later.
]]>pjmcconnell2008-11-19T23:45:42+00:00When the Circus left Town
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/11/when_the_circus.php
Some say Wall Street is like Las Vegas; it is not - it is like Coney Island. ]]>pjmcconnell2008-11-09T04:12:43+00:00Principles for a new Regulatory Paradigm
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/10/principles_for.php
(Almost) everyone agrees that financial regulation needs an overhaul - but how? How about changing the focus of regulation?]]>pjmcconnell2008-10-22T06:42:34+00:00Grande Bouffe II - French Farce
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/10/grande_bouffe_i.php
In all the gloom of the Credit Crisis, banking regulation in France can always be guaranteed to put a smile on one's face. ]]>pjmcconnell2008-10-18T04:43:31+00:00The Wealth of (Non) Nations
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/10/the_wealth_of_n.php
Does the Credit Crisis herald the end of the Nation State, if not in Politics and Economics but, maybe, in Finance?]]>pjmcconnell2008-10-12T04:35:49+00:00A Confidence of Crisis
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/09/a_confidence_of.php
"At least I mean what I say -- that's the same thing, you know, [as I say what I mean]" Alice in Wonderland.]]>pjmcconnell2008-09-03T05:30:28+00:00The Slippery Slope
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/08/the_slippery_sl.php
Like skiers on a Giant Slalom, European banking regulators appear to be engaged in a frantic race to the bottom - of regulatory competence that is.]]>pjmcconnell2008-08-19T04:07:10+00:00Losses! Wot Losses?
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/08/loss_wot_loss.php
Lost: One Moral Compass. Hardly ever used. If found, please return to Wall Street.]]>pjmcconnell2008-08-15T15:41:15+00:00La Grande Bouffe
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/07/la_grande_bouff.php
The French are past masters of the art of Farce and the French Banking Commission are determined to uphold this great tradition.
]]>pjmcconnell2008-07-07T17:51:12+00:00Basel II or Babel II?
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/06/basel_ii_or_bab.php
And so it came to pass!
[Genesis 11:1-9] 'And the whole earth was of one language, and of one speech' and they said 'Go to, let us build us a city and a tower, whose top may reach unto heaven.']]>pjmcconnell2008-06-12T16:26:37+00:00SG + PWC = MIA
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/06/sg_pwc_mia.php
Societe Generale's report into the Kerviel 'affaire' is a whitewash!
While this is not entirely surprising, it is perplexing that, after so much criticism of large audit firms in previous scandals, PriceWaterhouseCoopers (PWC) has allowed its good name to be used to bolster such an obvious snow job.
]]>pjmcconnell2008-06-02T16:35:29+00:00Risk Management - It's all in the numbers
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/05/risk_management.php
Sometime in the next 18 months, the International Standards Organization (ISO) will produce its long awaited 'standard' on risk management - ISO 31000. When published, the risk management profession will go into one of its periodic paroxysms of navel gazing on the efficacy of risk management standards.]]>pjmcconnell2008-05-10T13:55:29+00:00Sex in the City (of London)
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/04/sex_in_the_city.php
A recent experiment in neuroscience found that young men made bad financial decisions when thinking about sex - who would everhave believed that? The implications of the study for risk management are intriguing.]]>pjmcconnell2008-04-08T05:05:28+00:00Fiasco at Heathrow Airport - a case of People Risk
http://www.prmia.org/Weblogs/General/Patrick_McConnell/2008/03/fiasco_at_heath.php
It may be foolish to do a post-mortem on a patient who is still alive - but, here goes anyway. The opening of the new Terminal 5 at Heathrow Airport London is simultaneously both a risk management triumph and a PR disaster. How come? One word: people - pesky, unpredictable people!
]]>pjmcconnell2008-03-31T05:08:09+00:00