There is a very sobering thought about risk management capability and its dependency on information technology units in banks that goes along the following lines: If your data, model and reporting systems are lacking, so will your response to risk management. It’s that simple or perhaps not as we shall see with BCBS 239 regulations.
The Basel Committee on Banking Supervision has recently published an update on where banks are at with their BCBS 239 compliance [LINK] noting that only three banks are fully compliant with the principles under the Risk Data Aggregation…
