Blogger Archives: Richard Magrann-Wells

Richard Magrann-Wells

Richard is a Executive Vice President with Willis Towers Watson’s Financial Institutions Group based in Los Angeles. During his 25-year banking career, he has managed sales, trading and structuring teams for some of the biggest financial institutions. A regular contributor to American Banker newspaper and other publications, Richard writes about financial technologies ("FinTech"), financial crime, operational and executive risk.

Spotlight on Cyber – Cyber Security for Financial Institutions Finally Gets a Commander-in-Chief

World Cyber Risk

Financial institutions have to contend with myriad regulators and cyber security issues.  Multiply numerous regulators by an alarming array of risks and the risk management function becomes almost impossible.  The Federal Financial Institutions Examination Council (FFIEC) is working to simplify … Continue reading →

5 Financial News Stories You May Have Missed: Opportunistic Suits

5 Financial News Stories

This week: opportunistic suits, cyber attacks, guaranteed returns, LIBOR criminals, and some pretty major fat-fingering. Continue reading →

5 Financial News Stories You May Have Missed: My Computer Takes the Fifth

5 Financial News Stories

This week: SIFIs, CAMELS, the Fifth Amendment, and some pretty salty language. Continue reading →

Stealing $136 Billion is as Easy as Hacking a Twitter Account

Bad Blue Bird

The financial industry is rightfully hyper-alert to the risk that a hacker might infiltrate their systems.  We know that foreign governments, sophisticated crime rings and even lone computer geniuses have been able to breach even the highly secure systems employed … Continue reading →

5 Financial Stories You May Have Missed: The Senator and the Onion

5 Financial News Stories

This week: Elizabeth Warren, Lehman, stockbrokers, credit unions, embezzlement , hackers, and The Onion. Continue reading →

5 Financial News Stories You May Have Missed: Clawbacks and Jelly

5 Financial News Stories

The stories that mattered in finance this week: clawbacks settlements, Libor, and jelly... Continue reading →

5 Financial News Stories You May Have Missed: TBTF, ISDA, AP and More

5 Financial News Stories

Here are news stories from the week that were easy to miss, but may have some lasting impact. Continue reading →

5 Financial News Stories You May Have Missed: SEC’s New Driver

5 Financial News Stories

This week: The SEC appears to have new coordinates in the GPS and a new driver. Continue reading →

Financial Institutions of the World Unite: How Affiliated Groups Are Finding Savings in Purchasing Together

Dolphins

Great whites eat dolphins, unless of course, the dolphins get together with the other dolphins.  There is power in working together with others of your species. Dolphins aren’t the only ones that have discovered that there is strength in numbers.   Continue reading →

Google Glass: A Cure for Rogue Traders

Google Glass. Photo Credit: Antonio Zugaldia

If banks want to reduce risks associated with rogue traders, the answer is simple: Require all traders to wear Google Glass. Continue reading →