FAL speaks before Sri Lankan banking executives

Financial Services Risk Management (FSRM) partner Francis Lumbres (FAL) was a speaker at the Association of Banking Sector Risk Professionals (ABSRP) Sri Lanka’s Risk Symposium 2014. With the theme Challenges in Risk Management, the two-day conference catered to banking executives and aimed to address the subject of risk in the banking sector.

FAL, through his presentation entitled BASEL III: Facing Up to the New Regulatory Challenge, gave an overview of the implementation of BASEL, and discussed the shortcomings of BASEL II as manifested during the 2008 global financial crisis. He talked about the key changes of the BASEL III framework and the possible effects of these to banks, which executives or business line managers should learn to address in order to keep up with the change in the regulatory environment. He advised participants to focus more on some specific areas, particularly on liquidity risk, credit and counterparty risk, market risk, profitability, finance and International Financial Reporting Standards, and capital management, including the impact on ICAAP.

He also shared the results of a survey by EY and the Institute of International Finance on major financial institutions’ response to BASEL III requirements for business model, funding, and capital in reference to the implementation status of key ASEAN countries: Indonesia, Malaysia, Thailand, Singapore, and the Philippines.