Purpose – The purpose of this paper is to summarize key interaction‐coordination attributes and the uniqueness of smart business networks. Design/methodology/approach – The methodology analyzed is smart business networks, encompassing all three traditional business process life‐cycle...

Reports that banks have to implement additional risk management techniques owing to the failure of existing models to prevent losses that occurred as a result of financial upheaval. Discusses survey results of chartered accountants Deloitte and Touche, about the establishment of banks’ new...

Documents a joint venture between PricewaterhouseCoopers and the London School of Economics with regard to changes facing risk management. Chronicles that risk management is in its infancy, but that there are things that can be counted, measured and put away with banks and insurance companies to...

Outlines how Landesbank Baden‐Württemberg (LBBW) chose its new risk management software and the criteria required by the provider. Describes how three banks merged in January 1999 to become LBBW and how it is now one of Germany’s largest and most prestigious banking groups. Investigates the...

In this article Terry Simister explains the background behind the initiative led by the Institute of Risk Management to establish recognised British and International standards for the practice of risk management. He discusses the historical development of the concept of risk management and how...

The author traces the history and philosophy behind the concept of risk transfer and concentrates on the underlying theory of insurance. He argues that the complexity of the modern business world has meant that the simplicity of the concept has been lost. To this has been added the additional...

Corporate governance in the financial services sector is influenced by factors peculiar to the industry. The author assesses the influence of analysts and points out that reporting timetables across the industry mean that peer pressure becomes an unusually influential factor. He assesses how...

The author takes mining as his paradigm and analyses the approach to risk management showing that financial and fuzzy factors should be taken into account and, if handled effectively, can produce a very useful operational risk analysis.

Daniel Ben‐Ami, author of Cowardly Capitalism: The Myth of the Global Financial Casino, argues that the popular view of the global financial markets as some sort of irresponsible and volatile casino is fundamentally wrong. He argues that the financial markets have been as susceptible as...

As deputy governor of the Bank of England, the author provides an overview of the trends in consolidation of the market before assessing current proposals on the capital adequacy of banks and the new Basel Accord. He expresses concern about the perennial problem of liquidity and then provides...