Global Risk Data Programme
We supported our client’s Global Risk function to respond to the Basel Commission for Banking Supervision (BCBS) paper on the Principles for Effective Risk Data Aggregation and Risk Reporting.
The brief
Our client recognised the business benefits of creating a modern, holistic data programme capable of working effectively across the bank and, specifically, within their Global Risk function. We were challenged to get the programme up and running as well as focus on how the Global Risk function could improve the quality of data submitted to regulators and supervisory bodies.
The solution
Working alongside the bank’s Global Risk Chief Data Officer (CDO), we put together indicative cost, resource structure and timelines for the project before diving into designing the global data governance framework and establishing a steering committee focused on pulling resources together.
Our team highlighted the need for a central inventory of signed-off regulatory reports as well as defining the Terms of Reference for regulatory reporting and structures, specifically those related to the BCBS Paper.
The results
Our team brought momentum and energy to the programme from the start, so much so that the Global Risk function acted as a benchmark, informing the direction and driving the priorities for the rest of the bank. Thanks to our planning and design work, external vendors were able to add value from day one.