Supervisory pressure is on as ECB publishes guide on climate-related and environmental risk

ESG - The acronym that’s taken the corporate world by storm as it continues to gain serious ground. It’s at the top of most corporate agendas, and financial institutions are no exception. In its recent guide on climate-related and environmental risk (published in November 2020), the European Central Bank (ECB) declares that approaching the topic of ESG fr […]

ICAAP and ESG risks

The article was originally published on by Mohammad Kajiesfahani, Manager KPMG ECB Office at KPMG Germany. A new Action Plan from the EBA and the ECB’s growing interest in ESG risks are tangible signs of an increasing supervisory focus on climate change and other ESG factors. Integrating ESG risks into ICAAPs will be challenging, so banks should be […]

An ICT risk management must for banks

The challenge for IT organisations today is to improve their services while simultaneously reducing the costs they incur, a challenge usually met with the continuous service improvement approach. This approach has two steps: (1) assess the maturity of the key ITIL processes to identify areas for improvement and (2) enhance the functionalities of the supporting I […]

New guidelines ask banks to rethink internal governance

The financial crisis was a wakeup call for the whole financial industry. Among other things, it highlighted weaknesses in banks’ internal governance frameworks that hugely affected their abilities to face adverse situations. In reaction, international supervisory authorities have increasingly been emphasising internal governance. And this emphasis is still […]