Thinking Space

Thinking Space

The JDX Thinking Space publications are aimed at sharing our consultants’ practical knowledge and personal experience gained during projects, to help our clients address some of the issues they face in today’s markets.

The JDX Thinking Space publications are aimed at sharing our consultants’ practical knowledge and personal experience gained during projects, to help our clients address some of the issues they face in today’s markets.

The Evolution of Credit Value Adjustment (CVA)

01 DECEMBER 2017 BY VIOLETTE TAGHAVI The financial crisis in 2007 was a lesson we all hope that we have learnt from. Up until the crisis, the idea of a counterparty defaulting was unheard of and counterparties were deemed as ‘too big to fail’. As we all saw, the...
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Software Eating the World of Finance

25 April 2017 BY: MARK PEARCE Duena Blomstrom, FinTech speaker and creator of Emotional Banking, wants us to understand that FinTech is not just about the disruptors, but actually all of the financial players. This short essay classifies the FinTech ecosystem in more...
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Robo-Advice: A challenge to the human element?

BY KATERINA SABA With the ever-increasing use of technology, intensified competition in the financial services industry, and the growing value of assets under management (AUM), the advisory sector could not have remained unchanged. Wealth management is entering new...
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Data Science: Transforming the finance industry

BY TITOS MATSAKOS, PhD The Data Science revolution Data Science, Predictive Analytics, Big Data, Supervised/Unsupervised Machine Learning. Itinerant buzzwords or opportunity for competitive advantage? As we’ve seen during the last couple of decades, it can be much...
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Data Scientist vs. Data Analysts

WRITTEN BY KLAUDIA KLOCZEWIAK Big Data and Data Science are both terms that have become buzzwords in today’s world. Since it was recognised that using customer information to target the marketing of products (Tesco’s Clubcard being an early example), people have...
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The importance of a collaborative and end-to-end system for Client Lifecyle Management (CLM)

27 October 2017 BY AMANDA HALE Historically CLM has suffered from a lack of investment with fragmented legacy systems often depending upon manual processes. There are inconsistencies across business lines, locations and entities. This often means that the clients’...
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The Opportunity For Standardisation – Uncleared Margin Reform

BY RAVI SONECHA In the face of unprecedented regulatory reform, the over-the-counter (OTC) derivatives market is straining to adapt to new clearing, transparency and margin standards. Undoubtedly the importance of standardisation across industry participants,...
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Right Shoring – are you shore? One-size does not fit all

BY GUY WHITLEY Typically banks and financial institutions have, in times of mounting cost pressures, adopted a restructuring and redistribution of resources and processes globally to align with the business target operating model and strategic aims. Using a balanced...
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The Query Management Elephant

BY RYAN BACCUS Despite major investment into technology improvements and automation initiatives, post trade processing for financial markets products remains heavily reliant upon human interactions and as such is open to inefficiencies and risks associated with these...
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Motivating Staff during a Strategic Business Event: Short-Term Measures to Avoid Long-Term Loss

BY JOE BUMFREY CO-AUTHORED BY CHARLES DAVIS AND GUY WHITLEY Post the 2008 financial crisis, we find ourselves in an era where streamlining operation processes and product portfolios is a common business event for many organisations. Firms have faced the onerous task...
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The Professional Services Paradigm Shift

08 December 2017 BY NIAMH KINGSLEY Society, and the problems faced by those who work within it, is fluid, dynamic, and highly demanding. The services provided by professionals and experts who seek to remedy these problems must therefore be innovative and efficient....
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The Extended SM&CR: Personal accountability and culture of responsibility across the financial services sector

10 November 2017 BY Marta Hermannsdottir In 2016, the Financial Conduct Authority (FCA) replaced the Approved Persons Regime (APR) with the Senior Managers and Certification Regime (SM&CR) for banking firms. SM&CR is an accountability framework focused on...
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UAT: to be (Live) or not to be?

08 September 2017 BY: XANTHENIA NIKOPOULOU What is UAT? User Acceptance Testing (UAT) is exactly what the definition implies; solution testing that must meet certain agreed criteria to be accepted by the end users. It constitutes the final and most important step of a...
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FRTB: A revision of the Supervisory Standards against Market Risks

BY RODA ULAS Financial institutions play a “too big to fail” role in the global economy which can lead to catastrophic systemic risk. To mitigate the knock-on effects of unforeseen events, which may interfere with the financial stability and soundness of the economy,...
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2016: The year of great change

BY AMBER BISSELL WITH ASSISTANCE FROM SOPHIE SCALES As we look back over the past year, one thing is for certain: 2016 was a year of great change. A year dominated by Brexit, shock elections and overall uncertainty, there’s no doubt that 2016 was memorable. The most...
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Will Brexit challenge London’s role as the European city of choice for global banks to conduct business?

01 September 2017 BY CHLOE O’HEA and SHARIKA NILES London has always a been a world leading financial centre and still is a crucial player with regards to the dominance of the financial services industry compared to its counterparts. To put it into perspective...
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Uncleared Margin Rules – how was the challenge met?

10 APRIL 2017 BY: KALINA TASEVA The topic of uncleared margin rules (UMR) and its implementation have been circulating the financial industry for the past year. The big day of 1st March 2017 – the deadline for Variation Margin (VM) compliance – has passed, but we are...
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The Legal Side of Brexit and Article 50 – UK Financial Services Industry to Embrace Uncertainty

BY: JOSIE STEER After the public referendum held on 23rd June 2016, it appeared certain that the UK would exit the European Union (EU) after nearly 52% of voters elected to leave. This outlook soon turned out to be somewhat naïve however, as the intricacies of Britain...
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Legal Project Management, a growing need within financial institutions?

BY FLORENCE ROSATI Legal Counsel within a bank is critical to maintaining its commitments to clients, regulators, and shareholders. Banks are enabling legal functions to autonomously interact with external counsel and clients by providing legal advice that protects...
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Brexit – uncertainty is certain

For 41 years the UK has been a member of the European Union, having joined the (then) European Economic Community in 1973. On 23rd June 2016, the UK electorate will again have to decide whether the UK is to remain a part of this economic and political union. There...
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Bordereaux Managed Services – Supporting the London Market to get the most out of their data

13 October 2017 BY CLAUDIA ADOLPHUS The implementation of the Solvency II, Pillar 3, regulation in January 2016, gave rise to a new requirement for insurers to report claims and risk information for the Annual Solvency Return (ASR). Pillar 3 highlights the...
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A Changing Insurance Regulatory Landscape in Asia Pacific

18 August 2017 BY SHAUN NG Asia Pacific (APAC) has increasingly been identified as an area of potential growth for insurance companies globally with its healthy economic growth and increase in disposable income. However, to successfully harness these opportunities, a...
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Challenging the speed of automation against the quality and security of manually handling claims

BY WILL PERRETT The claims process, why is it perceived to be slow? In 2017, Lloyd’s want to focus on the claims process, chiefly to make it more efficient and a better experience for both insurers and customers. In order to fix the issues within claims handling, it...
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New Lloyd’s minimum standards have the potential to create chaos in the lineslip market if not dealt with imminently

BY FELIX NOLAN An earlier Thinking space article entitled Forced reform of delegated authorities speaks about the challenges created by new rules imposed by Lloyd’s on the delegated authority market. Delegated authority is when insurers agree to give authority to...
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Market Reform Contract Digitisation: An Opportunity Beckons

BY DOUGLAS TAYLOR One of the previous JDX for Insurance Thinking Space articles, A Target Operating Model for the London Insurance Market, describes some of the challenges currently facing the London insurance market (the “Market”) and some of the solutions that are...
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Is the EU Ready for the impact of MiFID II?

15 December 2017 By Lydia Appel and Phoebe Cutter The 2008 financial crisis uncovered that the existing regulatory governance framework over financial instruments was limited and subsequently lead to a suite of new EU regulations to ensure the safe and efficient...
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Cryptocurrencies – A struggle of acceptance in China?

20 November 2017 BY SHAUN KOH With the growing global acceptance of digitalisation and artificial intelligence in the 21st Century - from automatic cars to location tracking and digital currencies (cryptocurrencies), comes greater implementation of regulations to...
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Financial Consulting in Switzerland – opportunities and challenges

25 September 2017 BY LUCY MOORE Switzerland is considered one of the most stable and secure economies in the world, built on its long term financial and political stability. Its prosperous economy, low unemployment rates and highly skilled labour force has seen the...
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General Data Protection Regulation (GDPR) is fast approaching… Are you prepared?

23 MAY 2017 BY: DOUGLAS TAYLOR Key terms: • Natural person – A citizen or lawful resident of a European Union member state • Personal data – Any data related to an identified or identifiable natural person • Processing – Any operation performed on personal data...
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MAR – The Latest Addition to Post-Financial Crash Market Regulations

BY: SHALINA SETHI Recently, regulatory arbitrage – the act of firms choosing to operate in markets that have a more favourable regulatory landscape – has given rise to concerns over its potential use for market distortions. These alternations, driven by the unlawful...
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