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Pat McConnell

Honorary Fellow, Macquarie University Applied Finance Centre, Macquarie University

After over 30 years working for, and consulting to, major banking and insurance companies in the US, Europe and Australia, Pat transferred to teaching courses in Risk Management at Masters level and to industry. His main areas of research are in Operational Risk (People, Systems, Process and Legal risks) and banking regulation and he has published widely on this topic, including a new book on People Risk Management http://www.koganpage.com/product/people-risk-management-9780749471354 .

Time to toss one of the Four Pillars out of the nest?

Nov 04, 2016 03:50 am UTC| Insights & Views Business

This week, ANZ, the latest (and now the last) of the Big 4 Australian banks to have ventured far away from the nest, confirmed that it was coming home into the arms of the Bank of Mum and Dad (also known as the Australian...

Blockchain Revolution Series

Blockchain: reinventing the squeaky wheel

Oct 25, 2016 18:13 pm UTC| Insights & Views Fintech

Apparently, the world is holding its breath on the unloading of a few bales of cotton, which could change trade forever. In Qingdao sometime in early November, 88 bales of cotton will be unloaded and ownership of the...

Big four bank chiefs face parliamentary committee: experts react

Oct 04, 2016 08:39 am UTC| Insights & Views Politics

The chief executives of Australias big four banks are this week being called before a House of Representatives economics committee. We asked a panel of experts what questions the committee should be asking. Deborah...

Banking excuses wearing a bit thin

May 20, 2016 09:59 am UTC| Insights & Views

Brain Hartzer, the CEO of Westpac, gave an excuse to the media when asked about allegations that Westpac traders deliberately manipulated the important Bank Bill Swap Rate (BBSW) benchmark, saying that it was a heavy...

Banks – Just what do they get paid for?

May 09, 2016 06:14 am UTC| Insights & Views Business

Just last month, the US Department of Justice (DOJ), fined Goldman Sachs over AU$6.7 billion and Wells Fargo over AU$1.6 billion for improper mortgage lending practices specifically securitising and selling Residential...

Government backflip on ASIC could be too little too late

Apr 21, 2016 06:31 am UTC| Insights & Views Law

In announcing new money for the Australian Securities and Investments Commission, the Treasurer and the Minister responsible Kelly ODwyer executed a synchronised back flip with tuck, declaring that The broad reform...

BBSW – Too Dumb to Understand?

Apr 07, 2016 06:37 am UTC| Insights & Views Law

The reactions of ANZ and Westpac management to recent legal actions by ASIC alleging manipulation of the BBSW benchmark are instructive of the attitudes of the major banks. ANZ wheeled out its Chief Risk Officer to...

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Economy

Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility

U.S. stocks surged on Friday, posting their strongest session since May 2025, as investors regained confidence following a turbulent week marked by sharp losses in technology shares and uncertainty around the artificial...

Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination

Gold and silver prices climbed on Friday, closing out an exceptionally volatile week in the precious metals market following a historic selloff. The turbulence was sparked by the nomination of former Federal Reserve...

RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal

The Reserve Bank of India (RBI) on Friday kept its key repo rate unchanged at 5.25%, a widely expected decision that reflects confidence in Indias strong economic growth and easing external pressures following a major...

Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm

Japans economy is widely expected to have returned to growth in the final quarter of 2025, supported by strong corporate investment and resilient consumer spending, according to a recent Reuters poll of economists. The...

Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election

Asian stock markets mostly declined on Friday, tracking sustained losses in global technology shares and a weak lead from Wall Street, while Japanese equities managed to stabilize ahead of a closely watched national...

Politics

TrumpRx.gov Highlights GLP-1 Drug Discounts but Offers Limited Savings for Most Americans

President Donald Trump has launched a new prescription drug pricing website, TrumpRx.gov, aiming to showcase his administrations efforts to reduce drug costs in the United States. The website focuses heavily on negotiated...

U.S. to Begin Paying UN Dues as Financial Crisis Spurs Push for Reforms

The United States will make an initial payment toward the billions of dollars it owes the United Nations within weeks, according to comments made by U.S. Ambassador Mike Waltz in a recent interview with Reuters. The move...

Norway Opens Corruption Probe Into Former PM and Nobel Committee Chair Thorbjoern Jagland Over Epstein Links

Norways economic crime police unit, Økokrim, has opened an investigation into former prime minister and former Norwegian Nobel Committee chairman Thorbjoern Jagland on suspicion of aggravated corruption, authorities...

Iran–U.S. Nuclear Talks in Oman Face Major Hurdles Amid Rising Regional Tensions

Iran and the United States are preparing for high-stakes nuclear negotiations in Oman on Friday, but deep disagreements over the agenda and escalating regional tensions suggest that meaningful progress will be difficult....

Trump Allegedly Sought Airport, Penn Station Renaming in Exchange for Hudson River Tunnel Funding

U.S. President Donald Trump reportedly offered to release frozen federal funding for the $16 billion Gateway Hudson River tunnel project in exchange for Democratic Senator Chuck Schumers support for renaming Washington...

Science

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Technology

Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge

Nvidia (NASDAQ: NVDA) CEO Jensen Huang reaffirmed his bullish stance on artificial intelligence, calling the massive capital expenditure flowing into AI infrastructure both appropriate and necessary as the industry...

Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate

Amazon.com (NASDAQ:AMZN) delivered a mixed but closely watched earnings report, beating Wall Street expectations on revenue while unveiling a massive long-term investment plan that unsettled investors. The e-commerce and...

Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch

Major PC manufacturers including HP, Dell, Acer, and Asus are reportedly exploring the option of sourcing memory chips from Chinese semiconductor companies for the first time, as a prolonged global supply crunch continues...

OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering

OpenAI is significantly accelerating its enterprise AI strategy by hiring hundreds of new employees for its technical consulting division, according to a report by The Information, citing a person familiar with the...

SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off

SoftBank Group Corp. (TYO:9984) shares tumbled sharply on Thursday, tracking a steep decline in Arm Holdings (NASDAQ:ARM) after the UK-based chip designer reported weaker-than-expected earnings for the December quarter....