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Dear member, 

It has been already a terrible week for banks, especially when French banks took a beating on fears of their exposure to Greek debt, and the European Central Bank reported a sharp rise in emergency funding, the last thing the banking sector needs is another rogue-trading scandal.
The news that a trader has lost $2 billion at UBS is quite a shock. Banks were supposed to have reviewed their system after the similar affair a few years ago at Societe Generale to prevent this kind of things from happening; trading positions should be limited, accounts reconciled on a daily basis etc. It will be intriguing to find out how it happened.
What does it all tell us about the overall state of Risk management in banks and especially at UBS? The bank that lost 50B in the credit crunch era and needed a Swiss Government bailout to stay afloat made it again to the headlines!
It seems that the Risk Culture is not cohesive enough as many institutions go through one merger to another and morale of many employees is shaky to say the least.

By the way if you got a frog for a picture, hurry up and replace it! 

Lee Werrell is asking a question on Inter Dealer Risk Library.

Say hello and get connected see all our members's introductions here.

We published an interview with Michael Thomsett who is a world renowned author with over 80 published books. He is a best-selling options author in the United States as of 2010 and he is our top blogger too. We discussed the recent trends, Michael's view on the current crisis and many other things. Michael also prepared a special option trading course for our community members which we hardly recommend to anyone wishing to effectively manage an investment portfolio. To the first 20 members whos sign up and pay Michael is offering to sign and mail a copy of his book "The Options Trading Body of Knowledge" (a $34.99 value based on U.S. retail price). 

We recently conducted a joint webinar with easy2comply "The Balance between Risk & Business Management". We've got a record number of attendees and subscribers and also we had a large Q/A session with many actual and interesting questions.

You can listen to the webinar and watch the presentation via the link above.

You are welcome to submit the questions you would like to ask the Risk leaders at the Risk Capital Conference September 19-23, Frankfurt, Germany

The latest Blog posts:

Tim Brew delivered:

Regulation – overcoming the challenge

Regulatory transparency – the holistic approach?

Michael Thomsett delivered as usual a great number of blog postings:
How options can reduce and even eliminate market risk

Insrance puts for eliminating market risk
Reducing portfolio risks for little to nocost

2nd IT GRC Meeting in Lisbon, Portugal

Dear Infosec Professionals,

The ShadowSEC is the organizer of 2nd IT GRC Meeting.

The event will be held in Lisbon/Portugal in 14th to 15th - October, and will be responsible for gathering professionals to discuss important issues such as Risk Management, Governance, Compliance, Cybercrime and Information Security.

See our agenda -

See our last newsletters:


22nd Edition: SOX Compliance & Evolution to GRC Conference
November 15-16, 2011
Chicago, IL

This conference will bring together leading SOX and Compliance practitioners to review the required blend of compliance and risk-based strategies, as well as methodologies necessary, to meet federal mandates while developing greater efficiency across their GRC footprint.

Attending This Premiere Conference Will Enable You to:

• Hear from the SEC and PCAOB on SOX Compliance and Recent Court Rulings
• Achieve greater efficiency through the deployment of a risk-based approach
• Explore how the Dodd Frank Act has made SOX more strict and clever
• Ensure that SOX is a continuous process rather than an annual compliance exercise
• Identify the right tools for your SOX compliance efforts

For more information or to receive a discounted rate, please contact Michele Westergaard


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Have a great weekend and give us your feedback on what would you like to see on GlobalRisk Community.
Thank you for being here. 
Boris Agranovich,
Founder @ GlobalRisk Community