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Established in 2004, Avantage Reply is a pan-European specialised management consultancy delivering change initiatives in Operations, Risk, Finance (Capital Management and Regulatory Reporting), Treasury and Payments. Avantage Reply employs 220 consultants within our 13 offices across Europe. Additional information is available at: www.avantagereply.com
Following the 2008 crisis, financial regulation moved from the periphery to the centre of the global economic agenda. Risk discussions were no longer confined to technocratic circles but were taken up by the financial industry as a whole, including policy makers and the general public. We saw the increasing importance of Chief Risk Officers (CROs) and recognised the need for risk management to be embedded across all levels of an organisation. In 2014, Avantage Reply launched its CRO Insights Journal to respond to these shifts.
The CRO Insight Journal is an Avantage Reply publication that seeks to help the industry to better understand, measure and assess the consequences of risk and risk management in the financial industry. It aims to be a forum for knowledge-sharing and the cross-fertilisation of risk practices across all industry segments.
In this fourth edition of the CRO Insights Journal, we assess the challenges banks face in implementing the new minimum capital requirements for market risk through interviews with experts from HSBC, ING, Rabobank and Avantage Reply.
We hope that the contributions in this fourth edition of the CRO Insights Journal will prove to be both stimulating and useful to risk professionals in preparing for the challenges of implementing FRTB.