Key Risky Events in Citigroup
Key Risky Events in Citigroup

Author(s): Krasimir Mihaylov
Subject(s): Social Sciences, Economy, Business Economy / Management, Sociology, Evaluation research, Management and complex organizations, Financial Markets
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: bank regulation; risk assessment; commercial banks; standard
Summary/Abstract: Being such an enormous global financial institution, Citigroup has encountered a large number of risky events throughout the years. Each of these risky events demonstrates the complexity and interconnectedness of the risks that Citigroup, and every large bank faces. Since 2000, the bank has taken more than 27 billion dollars in penalties. From credit and market risks to operational and compliance challenges, these incidents have shaped the bank’s approach to risk management and reinforced the need for continuous improvements in its systems, controls, and oversight mechanisms. However, recent events highlight that there is one particular risk that is hard to regulate and standardize. This paper will provide an alternative for operational risk management as a common international standard for bank solution systems.

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