The importance of risk data
Op risk managers must prepare for much greater regulatory demand for real-time data
In January 2013 the Basel Committee on Banking Supervision released a paper, after a period of industry consultation, entitled "Principles for effective risk data aggregation and risk reporting". This paper could be revolutionary for risk management as it gives to risk data an importance comparable to accounting data in a financial institution.
Having accurate risk information is fundamental and the 2008 crisis showed that very clearly. Recent media reports on the five-year anniversary of the
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