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We are constituting our founding Risk Accounting Standards Board (RASB) that will also function as our non-profit’s board of directors. If you are interested in serving in this capacity please write to me in confidence at peter.hughes@serraq.org or call me on +44 7766...

Message from the Chairman

It’s almost 20 years ago that I was asked by the Chase Manhattan Bank’s COO, Rick Mangogna, to form and lead a team with a mission to design and implement a risk reporting framework for global operations. We soon understood that achieving our mission depended on the...

The Rise of a Complexitocracy

What is a Complexitocracy? Don’t bother looking it up in a dictionary… it’s not there. But it should be. If it were, the definition would be something like, “The governance or control of the global financial system by an elite of quantitative modellers”....

We Welcome Paul Costea as Chief Operating Officer of SERRAQ

v Paul Costea appointed as Chief Operating Officer of SERRAQ We are pleased to announce the appointment of Paul Costea as Chief Operating Officer of SERRAQ with immediate effect. In addition to his general administrative responsibilities, Paul will specifically...

Where Next for Op Risk Management?

Where Next for Op Risk Management? The European Central Bank (ECB) has issued its 2019 SREP Report (Supervisory Review and Evaluation Process) According to risk.net:  “Many European lenders scored dismally on operational risk management and internal governance in the...

Accounting’s Operational-Risk Missing Link

Accounting’s Operational-Risk Missing Link A void that limits the influence of risk management and, at worst, increases the probability of unexpected losses. It is sound accounting practice to adjust accounting profits for expected future losses associated with the...

Non-Financial Risks: Developments in Accounting

Risk and control self-assessment and operational risk loss databases provide the foundation for a new branch of accounting focused on non-financial risks We intuitively understand accounting measures such as profit or equity. The corporate world places great reliance...
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