Risk

Financial institutions are beginning to get on board with the global fight against climate change, but they are still trailing pension funds and insurance companies in putting these concerns into action.

Turnover of chief risk officers is on the rise as CEOs look to add executives whose experience goes far beyond assessing credit risk. Sometimes they are promoting from within, but often they are poaching talent from rival banks.

Citigroup has appointed Jay Jacobs, former president of the investment management firm PIMCO, as an independent director.

As data breaches mount in the "Equifax era," CFOs have a broad vision of enterprise data that can prove helpful in mitigation, according to Lauren Ruef, a research analyst for Nvoicepay.

Under a consent order with Texas and seven other states, the Atlanta-based credit reporting firm agreed to shore up its information security efforts, but it will not have to pay any financial penalties.

Trade associations hail move that would push back implementation of risk-based capital rule to 2021.

Since launching in the U.S. a year ago, CashShield gained traction in the marketplace by adding Yamibuy and Scalefast, among others, to its global portfolio.

Warnings about "breaking the internet" and environmental harm don't take blockchain's ability to improve these factors into account, contends Vladislav Dramaliev, marketing lead at aeternity.

The company said the aim of a redesign and additional automation is to make its compliance software easier for bankers to use.