Specialists in accounting and financial control

"Results Oriented Change Management"

Control and integrated risk management

Risk Data Aggregation

“Turning the lemon into lemonade”

Inaccurate data leads to inaccurate management decisions“.

The Risk Data Aggregation Requirements introduced by the Basel Committee on Banking Supervision (BCBS), introduced a set of Data & Risk management related principles which have to be met across the banking sector. This aims to ensure Banks are able to clearly measure the performance vs. risk tolerance ratio.

In order to achieve this task, banks must implement significant changes across the following departments:

Governance & Control
Management Information & Reporting
Accounting
Chief Data Office / Data quality & Structural Systems
IT Infrastructure & Architecture
Risk Management Office

Key Benefits:

  • Robust reporting infrastructure, which may be used by the Executive & Senior Managers to make accurate strategic decisions based upon solid data and facts.
  • Improve Oversight, by enabling higher data granularity, traceability while simplifying the Control Models, and improving error detection speed which leads to loss reduction.
  • Enhance the management information systems providing a clear audit trail for both, managerial and legal use.
  • Provide an effective Risk Assessment tool to monitro the banks’ real time risk position & exposure.
  • Reduce manual intervention and therefore risk of error, leading to a more automated, quicker, and cost effective processes.

Based on our experience in Risk Data Aggregation Projects in top tier financial institutions, MBC can provide guidance to turn this regulatory requirement into a competitive advantage. We suggest a 3 prong strategy to tackle this changes successfully:

  1. Self-Assessment: An accurate & robust diagnostic of the existing Management Information Processes and the Accounting & Control Models, will provide a clear benchmark against the RDA requirements, while highlighting the GAPs to be bridged to achieve the change.
  2. Benefit Analysis: Align the strategic vision of the Bank with the key changes identified, will turn the lemon into a lemonade by using the RDA umbrella to define key cross-departmental changes in Governance, Data aggregation and MI analysis capabilities.
  3. Implementation: This is the core of the competitive advantage. A clear project management office (PMO) responsible to steer the Bank through the relevant changes effectively is of key importance. We suggest to align the IT teams as the pillar for the Data Transformation Project.
    May Business Consulting can help you execute the above proposed strategy, balancing the internal capabilities against the regulatory requirements, performing a clear self-assessment, defining and implementing the necessary changes to turn a regulatory requirement into competitive advantage.
  • Diagnostic

    MBC has extensive experience and a clear methodology to conduct a quick diagnostic of your organization against the Banking Reform regulatory changes

  • Governance & Risk

    We can help you Review the internal Risk Governance models

  • Data is Power

    We can help you define a clear Data Strategy for your organization

  • Project Managment Office

    The correct Project Management structure is key to succeed

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Risk Data Aggregation
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Traceability | Simplification | Control

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Risk Management

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Robust Management Information System

Do you have any further question?

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