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Stanley Epstein
Principal Associate

Premium Author Stanley Epstein

Shoham, Israel


Personal Web site:

Memorable Quotes:

"Many organizations are wrongly assuming that operational risk regulation will keep them safe – so there is an over reliance on already high levels of regulation, which cannot be a substitute for sound and effective internal risk management policies and procedures.”

Brief biography:

Stanley Epstein is a Principal Associate and Director of Citadel Advantage Ltd., a specialist bank operations consultancy and training provider in the area of Operations Risk, Business Continuity and Payment Systems.


The mobile phone has become ubiquitous. It is the one hi-tech device that has become the universal calling card for humankind. Yet despite the privilege and the benefits that this instrument bestows i...
To really fix the financial and banking system governments and regulators need to get to the core of the problems that led to the 2007-9 financial crisis. The evidence so far indicates that the curren...
The use of the mobile phone for the transfer of workers’ remittances and for small payments holds much promise, especially in Africa. However two problematic issues threaten the mobile revolution. The...
Banks are once again up to their old tricks. It seems as the events of 2007, 2008 and 2009 have been forgotten. Greed seems to have taken precedence once again prompting the question of bankers and th...
The recent Eurostar train failures in the English Channel Tunnel are an excellent example of Operational Risk. This event clearly indicates the unpredictable nature of this type of risk as well as the...
Operational risk is an often overlooked aspect of risk management. However it is this risk that poses the greatest dangers to the survival of the business enterprise. This article explores operational...
The recent financial has shown that among the many contributing factors there is no doubt that Risk Management didn’t adequately manage the risks. This article examines some of the reasons for this ma...
Liquidity problems from mid 2007 onwards, focused minds on the whole question of liquidity risk management. How banks should manage their liquidity is set out by the Basel Committee in the form of sev...
Within the banking industry different sub-units often have conflicting goals which can lead to inefficiencies.
Unfolding events in recent days at France’s second largest bank point clearly to one thing - a chronic failure to effectively manage operational risk.
Real Time Gross Settlement (RTGS) is a specialized central bank application that ensures the settlement of critical payments in the financial system. Given the relatively small number of countries on ...
Real Time Gross Settlement systems are generally regarded as being one-hundred percent safe. However this may not be entirely true. The degree and extent to which a national central bank will accept e...
The European Union (EU) makes extensive use of the Designation approach to ensure the legal stability and the protection of payment, settlement and securities settlement systems. What is a “Designat...
“Loss Sharing” is a failsafe mechanism that aid in ensuring that settlements in interbank settlement systems can be completed. They help in providing stability within the financial system. 
The Basel II Accord introduces a specific requirement relating to the reservation of capital against operational losses. It also sets out those standards that have to be observed in the mitigation of ...

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