Activity
Identify relevant process risks
Assess risks ICS ERM
Organisation
Responsible role
Risk Manager
Responsible
Process Expert
Accountable
Risk Manager
Consulted
Risk Manager
Internal/External Audit
Risk Owner
Informed
Senior Management
Input/Output
Input data
Process documentation
Output data
Risk catalogue
Requirements
Requirements (Basel II)
Estimations of loss given default (LGD)
Comprehensive assessment of risks
Estimations of exposure at default (EAD)
Board and senior management oversight
Estimations of probability of default (PD)
Requirements (SOX)
Section 906. Corporate responsibility for financial reports
Section 302: Corporate Responsibility For Financial Reports
Section 409: Real Time Issuer Disclosures
Section 403: Disclosures Of Transactions Involving Management And Principal Stockholders.
Section 404: Management Assessment Of Internal Controls
Section 802: Criminal penalties for altering documents
Requirements (MIFID)
Article 21 Obligation to execute orders on terms most favourable to the client
Article 14 Trading process and finalisation of transactions in an MTF
Article 9 Responsibility of senior management
Article 5 General organisational requirements
Article 7 Risk management
Article 10 Complaints handling
Article 26 Monitoring of compliance with the rules of the MTF and with other
Article 20 Reports by external auditors
Article 8 Internal audit
Article 22 Client order handling rules
Article 6 Compliance
Article 13 Organisational requirements
Article 12 Personal transactions