6 RMA Calendar of Events
8 From Your RMA Leadership:
Continuing the Tradition of Professionalism
BILL GITHENS, CRC
9 Centennial Update
10 Index to Advertisers
RMA New Member Welcome
43 Credit Risk Benchmarks from the RMA/AFS
Risk Analysis Service
75 Tales of WHOA!
National Bank Act Preempts State Regulation of Check
Posting, but Not a Ban on Misleading Statements
MICHAEL L. WEISSMAN
The RMA Journal (ISSN 1531-0558) is published monthly (except August and January) by The Risk Management Association, 1801 Market Street, Suite 300, Philadelphia, PA, 19103, 215-446-4000. Periodicals
postage is paid at Philadelphia, PA, and at additional mailing offices. Postmaster: Send address changes to The Risk Management Association, 1801 Market Street, Suite 300, Philadelphia, PA, 19103. Copyright 2013
by RMA. The Risk Management Association (“RMA”). All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying,
recording or by any information storage and retrieval system, without the prior written permission of RMA. This publication is designed to provide accurate and authoritative information concerning the subject matter
covered, but is not to be construed as rendering legal, accounting, or other professional advice.
Departments Enterprise Risk
48 Canadian Chief Risk Officers Address Regulation,
Relevance, and Reputation
Chief risk officers from five of Canada’s largest banks
discussed industry risk challenges during a panel
discussion sponsored by RMA’s Toronto Chapter.
KATHLEEN M. BEANS
52 Liquidity Flowing into Leveraged Credit Markets
The higher returns offered by leveraged credit are drawing new
players into the market, experts noted at a recent New York
Chapter panel discussion.
56 Operational Risk Management Is Critical to Bank Success
RMA welcomed a sold-out crowd of operational
risk leaders and regulators to its 7th annual Governance,
Compliance, and Operational Risk Conference (GCOR VII)
60 Securities Lending at a Crossroads
As practitioners look to the 30th edition of RMA’s
Conference on Securities Lending this fall, the industry
faces one of its most challenging environments ever.
64 The Importance of Sustainable Policy Management in
Delivering an Effective Risk Program
Learn the six steps to ensuring that your firm’s approach to
policy management is improving risk mitigation while
meeting stakeholder needs.
DANIEL PAULA, JANE KRECICKI, AND GREG MONTANA
68 Operationalizing Risk Tolerance
Never assume your risk tolerance strategy is being carried
out properly just because it’s been put down in words.