The finance, risk and compliance operations of any financial institution need nimble access to business information, for performance measurement, risk management, and client and regulatory reporting. But although the underlying data may be the same, their individual requirements are different, reflecting the group-level view required by senior management and regulators, and the more operational view at the individual business level.
This paper examines the challenges facing financial institutions operating across borders with respect to ensuring data consistency and usability across multiple user types.
Where in the past, risk managers have been left to figure out what’s most appropriate for their particular institutions, regulators today are adopting a more aggressive stance, challenging the assumptions underpinning banks’ approaches to risk management. As a result, today’s challenge is not only to understand the current regulatory, risk or finance requirements, but also to set in place the analytical framework that will help anticipate future requirements as they come on stream.
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