Press Release
 
Print page

Announcement of Systemic Risk Reporting Review


London: 25 June.  JWG and Paradigm Risk are pleased to announce they have received funding from the Technology Strategy Board - a public agency - and the Financial Services Knowledge Transfer Network to undertake a review of systemic risk reporting in the UK.  The review will focus on the practical steps required for the UK to control its systemic risk by identifying the ‘pipes and plumbing’ needed to establish effective monitoring to prevent a repeat of the recent financial crises.

Terms of reference:

JWG and Paradigm Risk will examine the:

  • realistic range of systemic risk regimes
  • information and data required to support these regimes
  • the practicality of collecting that data
  • data storage, transmission and manipulation issues
  • data quality and accuracy requirements
  • call for new data standards
  • changes that firms will be required to make
  • affected competencies and governance models.

Approach

The team will be conducting interviews with representatives of central banks, regulators, supervisors, investment firms, international agencies, suppliers to financial services and trade associations across Europe and the United States.  They will also be reviewing the range of academic contributions to the systemic risk debate.

Prior to publication of its findings, the team will conduct a ‘road show’ in London for legislators, regulators and the central banks.

Contact details

PJ Di Giammarino

CEO, JWG

m  +44 7811 430 503

e  pj@jwg-it.eu

Peter Bonisch     

MD, Paradigm Risk

m  +44 7974 168 559

peter.bonisch@paradigmrisk.com

The funders can be contacted as follows:

Dickie Whitaker

Director, FS KTN

m  +44 7920 502 302

e  dickie.whitaker@fs-net.org

Nigel Walker     

Technology Strategy Board

m  +44 7824 418 360

nigel.walker@tsb.gov.uk

or you can contact the group at systemicrisk@paradigmrisk.com

 

For more information, see www.jwg-it.eu/SyRiG 

About the participants

JWG seeks to be recognised by regulators, financial institutions and technology firms as the independent analysts to help determine how the right regulations can be implemented in the right way.  Its status as an independent think-tank focusing on financial services regulation permits collaboration across the industry without serving the interests of any constituent over another.

Paradigm Risk is a London-based, multi-disciplinary risk consulting firm specialising in financial services.  It brings together expert consultants and practitioners in the fields of governance, risk and assurance to offer experience-based and thought-led advisory services to financial institutions.  Paradigm Risk focuses on leading insights into improving firm behaviour and effectiveness in governance and management of risk and assurance.

The Technology Strategy Board is an executive non-departmental public body (NDPB), established by the Government in 2007 and sponsored by the Department for Business, Innovation and Skills (BIS). Its role is to stimulate technology-enabled innovation in the areas which offer the greatest scope for boosting UK growth and productivity. It advises Government on how to remove barriers to innovation and accelerate the exploitation of new technologies.

The Financial Services Knowledge Transfer Network is funded by the Technology Strategy Board to harness research to support and protect innovation, competitiveness and market stability in the UK financial services sectors. The FS KTN maps the landscape of challenges and resources, both in firms and in academia, and provides independent reviews and suggestions for strategic R&D initiatives.  Networking events bring together industry insight and research-based knowledge to identify major challenges and build teams to pursue research and development into products and processes to enhance sector performance.



Login to download
JWG-IT