The three lines of defense (3LoD) doctrine is well-established at most depository institutions, providing a framework that establishes accountability for risk with business units and a checks and balances mechanism on risk management across the enterprise. Even so, 3LoD by itself is not sufficient to ensure risks are managed effectively. Several high-profile risk events at some large banks over the last several years have highlighted issues that can undermine the 3LoD framework.
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Toxic Train Derailment Vexing for Real Estate Industry
Health safety for residents following the Feb. 3 Norfolk Southern train derailment in East Palestine, Ohio, has been a top concern. Has it really been safe enough to return – both for the short- and long-term?
How to Bolster Climate Scenario Analysis
The Federal Reserve Board has engaged six of the biggest U.S. banks in a pilot Climate Scenario Analysis (CSA) to assess and “advance the ability of supervisors and banks to analyze and manage emerging climate-related financial risks.”
Registration is limited. If you are interested in participating in the conference, please contact reetta.ali-alha@aalto.fi.
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Registration is limited. If you are interested in participating in the conference, please contact reetta.ali-alha@aalto.fi
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The SEC, CFA Institute, Center for Financial Services at Lehigh University, and the Center for Financial Policy at Maryland Smith are pleased to jointly host the Conference on Financial Market Regulation. The goal of the conference is to bring together participants from academia, industry and the SEC for an exchange of views on topics of relevance to the commission.
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Short-term funding markets provide essential short-tenor financing for banks, dealers, and nonfinancial firms. They also play a central role in monetary policy transmission. These markets have experienced substantial funding stress and investor runs during the 07-09 financial crisis and the recent Covid-19 market turmoil, destabilizing the financial markets and beyond.
This event is in partnership with the Federal Reserve Board of Governors.
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Risk Lessons from FTX
FTX postmortems have included Axios describing the cryptocurrency exchange as a “house of cards” comparable to Enron, Theranos, Bear Stearns, Lehman Brothers and Madoff Investment Securities. Plus, Moody’s writes the collapse “will radically transform the crypto ecosystem, further shaking trust and raising doubts around its ongoing prospects.”
MFDF, Dechert and the Center for Financial Policy at the University of Maryland Robert H. Smith School of Business will host an one-day programs on all things ESG oversight for fund boards in Washington, DC. From SEC new and proposed rules, industry data requirements, sustainability rating structures, and oversight responsibilities for fund boards.
Note: If you register to attend the event virtually after April 10, please email kfanarak@umd.edu for login details.
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Several University of Maryland Researchers Meet at Smith to Talk Climate Finance
Supply chain risks from weather and climate, financing infrastructure risk reduction, and how measurement affects management when it comes to climate reporting were among the topics discussed at the Smith School on October 27 and 28, 2022. Roughly 30 participants, including University of Maryland professors, students, and representatives from financial institutions like the World Bank, T. Rowe Price, and PricewaterhouseCoopers were in attendance.