MAP S.Platis’ Post

🏦 ECB consults on governance and risk culture The European Central Bank (ECB) has launched a public consultation on its new draft Guide on governance and risk culture, inviting feedback from banks and stakeholders until October 16, 2024. This initiative aims to replace the 2016 supervisory statement and outlines updated expectations for banks' internal governance. Key highlights include: - Focus on Diversity and Effectiveness: The Guide emphasizes the need for diverse and effective management bodies, a priority for the Single Supervisory Mechanism (SSM). - Clarified Expectations: It details how management bodies should operate, the roles of internal control functions, and the importance of a robust risk culture. - Practical Reference: The Guide serves as a roadmap for banks, incorporating recent updates from the European Banking Authority and examples of best practices. - Ongoing Scrutiny: The ECB will intensify its oversight to ensure banks implement necessary governance improvements, particularly in light of past financial crises. A stakeholder meeting is scheduled for September 26, 2024, to discuss these developments further. This consultation marks a significant step towards strengthening governance standards in the European banking sector. Link - https://lnkd.in/gbZfJe4u #riskspotlight #operationalrisk #operationalriskmanagement #riskculture #riskgovernance #riskmanagement

📍The European Central Bank are taking a proactive approach to enhancing risk data aggregation and reporting (RDARR) processes. 💡 In today's ever-evolving financial landscape, robust risk management practices are non-negotiable. Despite advancements, many banks still grapple with addressing weaknesses in RDARR, prompting the ECB to take action. 🎯 Key among the ECB's priorities is the integration of internal risk reporting mechanisms throughout banking institutions. 🔄 This entails not only fortifying internal risk management systems but also harmonising them with regulatory reporting processes, leveraging digital, XBRL-based formats for enhanced efficiency and accuracy. 🚀 By bridging the gap between internal and regulatory risk reporting, the ECB aims to ensure seamless data flow, empowering both banks and supervisors with comprehensive insights into the sector's risk landscape. 👉 Read more here: https://zurl.co/RlCu #ECB #riskmanagement #banking #supervision #riskdata #regulatoryreporting #finance #leadership #innovation #bankingregulation #financeindustry

📊 **ECB Consultation on the Guide for Effective Risk Data Aggregation** The European Central Bank (ECB) launched a public consultation on Friday, May 3, on the guide for effective risk data aggregation and risk reporting. This consultation aims to gather public feedback on the proposed guide. The deadline for submitting comments was set for October 6, 2023, at midnight (24:00) CET. 🏦💬 The guide aims to assist financial institutions in improving their risk data aggregation practices and enhancing risk reporting. It is part of ongoing efforts to strengthen financial stability and banking supervision within the European Union. 🌍💼 Stakeholders are invited to participate in this consultation to provide their input and contribute to the development of an effective guide tailored to the needs of the European financial sector. The comments received will be considered in the finalization process of the guide. 💡🤝 For more information and to participate in the consultation, please visit the following link: [Public consultation on the Guide on effective risk data aggregation and risk reporting](https://lnkd.in/ehm72RA8) #ECB #PublicConsultation #FinancialRisks #FinancialStability #BankingSupervision

"Our supervisory priorities for 2025-27 focus on strengthening banks’ ability to withstand macro-financial and geopolitical shocks, and on ensuring that banks remediate material and persistent shortcomings in a timely manner and address emerging challenges." ➡️ Check out this blog post by ECB Banking Supervision.

On May 3 2024, the European Central Bank (#ECB) published its final guide on risk data aggregation and risk reporting (#RDARR). 🛡️ The guide outlines prerequisites for effective risk data practices, specifying and reinforcing supervisory expectations based on Basel Committee on Banking Supervision’s Principles for effective risk data aggregation and risk reporting (#BCBS239). Dive into the core principles and requirements of the guide on 12 June at 11 AM 📅 with Deloitte experts Andris Liepins, Dagnija Bērziņa and Elena Grigore. 🔗Register now to discover practical steps for staying compliant and improving your risk data management: https://deloi.tt/44T6aId. #Deloitte #RiskAdvisory #RiskManagement #banking #webinar

📊 Key Points from the EBA's Spring Risk Assessment Report: The European Banking Authority (EBA) has published its spring Risk Assessment Report (RAR), combining insights from previous reports and introducing new analyses. Here are the highlights: ➡ Geopolitical and Economic Risks: EU/EEA banks face heightened geopolitical risks and economic uncertainties, including fluctuating interest rates. ➡Loan Exposures and NPLs: Banks plan to gradually increase loan exposures, with non-performing loan (NPL) ratios rising across all segments. ➡Commercial Real Estate (CRE): EU/EEA banks hold over EUR 1.4tn in CRE loans. ➡Funding Plans: Banks plan to significantly boost long-term market-based funding and have increased collateral availability for future funding needs. ➡Capital Requirements: CET1 headroom above overall capital requirements and Pillar 2 Guidance remains comfortable. ➡Profitability Trends: Banks’ profitability has risen due to increased net interest income (NII), but this rise is expected to plateau. ➡Operational Risk: The significance of operational risk has grown, with a noted increase in cyber-attacks, including successful ones. ➡Non-Bank Financial Intermediaries (NBFIs): NBFI activity has expanded in the EU/EEA and globally over the past decade. #RiskAssessment #Banking #Finance #Risk #CyberSecurity #LoanExposure https://lnkd.in/d78_jk2U

On May 3 2024, the European Central Bank (#ECB) published its final guide on risk data aggregation and risk reporting (#RDARR). 🛡️ The guide outlines prerequisites for effective risk data practices, specifying and reinforcing supervisory expectations based on Basel Committee on Banking Supervision’s Principles for effective risk data aggregation and risk reporting (#BCBS239). Dive into the core principles and requirements of the guide on 12 June at 11 AM 📅 with Deloitte experts Andris Liepins, Dagnija Bērziņa and Elena Grigore. 🔗Register now to discover practical steps for staying compliant and improving your risk data management: https://deloi.tt/4arULAs. #Deloitte #RiskAdvisory #RiskManagement #banking #webinar

Geo-political risk relevance is increasing. As such, the European Central Bank is working on a new framework for assessing how geopolitical risks impact banks. Risk is interconnected and we have to ensure that this is effectively considered. Risk is also evolving, and we have to adjust in a dynamic manner. One of the critical success factors is the ability of the board of directors (governance layer) and executive management (management layer) to govern and manage in an integrated manner - not in silos therefore. The ISO 31000 risk guidance standard defines risk as the (positive and negative) effects of uncertainty on objectives. Consideration of the threats and opportunities associated with well-considered objectives. Consideration of the short-medium- and long-term options - doing the right things in the right manner. https://lnkd.in/dGVD4Z3R

On May 3 2024, the European Central Bank (#ECB) published its final guide on risk data aggregation and risk reporting (#RDARR). 🛡️ Join Deloitte experts Andris Liepins, Dagnija Bērziņa and Elena Grigore this Wednesday, 12 June at 11 AM 📅 to explore the core principles and requirements of the guide. 🔗 Sign up now to learn practical strategies for maintaining compliance and enhancing your risk data management: https://deloi.tt/4arULAs. #Deloitte #RiskAdvisory #RiskManagement #banking #webinar

EBA Publishes Final Draft Technical Standards for Market Risk The European Banking Authority (EBA) has published its final draft of the technical standards for market risk as part of its roadmap for implementing the Fundamental Review of the Trading Book (FRTB) in the European Union. These standards are designed to enhance the robustness of banks’ market risk frameworks, ensuring better alignment with global standards set by the Basel Committee on Banking Supervision. The EBA's standards focus on the methodologies for calculating the minimum capital requirements for market risk, aiming to improve risk management practices across the banking sector. This move is a significant step towards strengthening the resilience of the EU’s financial system against market volatility. For more details, read the full article here: https://lnkd.in/eA-DuNTf #consulting #businessdevelopment #transformation #financialservices #banking #marketrisk #riskmanagement #netherlands