- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2021-11-04T22:34:00
Credit Suisse announced sweeping changes to its long-term growth strategy, reemphasizing risk management after missed red flags led to billions of dollars in losses related to the collapses of Archegos Capital Management and Greensill Capital.
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Poor risk management by Credit Suisse’s asset management company kept the bank mostly unaware of the risky nature of lending procedures used by Lex Greensill that would lead to the collapse of Greensill Capital, according to Switzerland’s Financial Market Supervisory Authority.
Credit Suisse shared further information regarding its exposure to the collapse of U.K. supply chain finance startup Greensill Capital in March 2021 and how the bank was caught off guard.
Credit Suisse engaged in business dealings with some of the most notorious criminals in the world, according to a consortium of media outlets that spent months parsing through the leaked records of more than 18,000 of the Swiss bank’s accounts.
Portuguese bank Novo Banco, S.A., fired Chief Risk Officer Carlos Jorge Ferreira Brandão “with just cause” after an internal probe discovered “suspicious financial transactions” in his sphere.
A prominent risk management firm has issued its predictions for the top five risks for business in 2025, along with guidance for how organizations should prepare and respond.
When the DOJ released its revised Evaluation of Corporate Compliance Programs, it turned some heads. Tucked into a section on risk assessments was a strongly worded series of questions that appeared to shoulder compliance teams with the responsibility for ensuring the safe use of AI tools by their firms.
