Comments for The Asian Banker Blog http://www.asianbankerforums.com/blog Just another WordPress weblog Mon, 28 Sep 2009 13:57:24 +0000 http://wordpress.org/?v=2.9.2 hourly 1 Comment on Five banks fail stress tests, CEOs sacked by Aziz Ur rahman http://www.asianbankerforums.com/blog/?p=165&cpage=1#comment-330 Aziz Ur rahman Mon, 28 Sep 2009 13:57:24 +0000 http://www.asianbankerforums.com/blog/?p=165#comment-330 It was refreshing to read that the Nigerian Central Bank governor took an action which should be emulated by central banks whose supervised institutions have placed banks, their depositors and shareholders in a precarious situation i am sure there are countries in the region where the banks need to be taken to task and their CEOs and Board Members punished It was refreshing to read that the Nigerian Central Bank governor took an action which should be emulated by central banks whose supervised institutions have placed banks, their depositors and shareholders in a precarious situation i am sure there are countries in the region where the banks need to be taken to task and their CEOs and Board Members punished

]]> Comment on Bank IT security by David Clarkson http://www.asianbankerforums.com/blog/?p=92&cpage=1#comment-31 David Clarkson Tue, 30 Jun 2009 06:14:27 +0000 http://www.asianbankerforums.com/blog/?p=92#comment-31 Good post. Organizations need to spend more time identifying and revisiting their employee termination procedures. In our experience, few corporations have a fully automated process for handling terminations. The majority have a process which is geared towards the infrequent termination of a single employee. Today there is a greater number of multiple or at least more frequent terminations. The current process being highly manual is prone to failure. Many terminated employees will be left with remote access privileges. If access privileges are not canceled during termination they typically remain intact until there is an audit several months later. In the context of these unique times, organizations should consider the performance of their technology and processes simultaneously. David Good post.

Organizations need to spend more time identifying and revisiting their employee termination procedures. In our experience, few corporations have a fully automated process for handling terminations. The majority have a process which is geared towards the infrequent termination of a single employee. Today there is a greater number of multiple or at least more frequent terminations. The current process being highly manual is prone to failure. Many terminated employees will be left with remote access privileges. If access privileges are not canceled during termination they typically remain intact until there is an audit several months later.

In the context of these unique times, organizations should consider the performance of their technology and processes simultaneously.

David

]]> Comment on Business acumen needed by David http://www.asianbankerforums.com/blog/?p=32&cpage=1#comment-10 David Tue, 09 Jun 2009 06:29:03 +0000 http://www.asianbankerforums.com/blog/?p=32#comment-10 There is no doubt that ASEAN banks approach to risk is changing, though slowly. Increasing globalisation and the desire to compete with foreign banks as various markets are liberalised is making CRO's and board painfully aware that their current risk regimes are often insufficient to satisfy both regulators and a highly wary market. And yes, various risk systems failed - but was it the technical tools that caused the failure or lapses in the risk management process (i.e this deal looks a bit dodgy, but we'll make a bucket of money , so will give it an exception ). One thing that the recent events have shown, at least to me, is that the precepts that we have been applying to our concepts of risk and its management need to be reset - we can't predict the future so we should be creating platforms that can help us deal with the unexpected when it occurs, which implies that revenue expectations have to be lowered. There is no doubt that ASEAN banks approach to risk is changing, though slowly. Increasing globalisation and the desire to compete with foreign banks as various markets are liberalised is making CRO’s and board painfully aware that their current risk regimes are often insufficient to satisfy both regulators and a highly wary market.

And yes, various risk systems failed – but was it the technical tools that caused the failure or lapses in the risk management process (i.e this deal looks a bit dodgy, but we’ll make a bucket of money , so will give it an exception ). One thing that the recent events have shown, at least to me, is that the precepts that we have been applying to our concepts of risk and its management need to be reset – we can’t predict the future so we should be creating platforms that can help us deal with the unexpected when it occurs, which implies that revenue expectations have to be lowered.

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