Wolters Kluwer: Data Management – a Finance, Risk and Regulatory Perspective
Posted: 5 July 2013 | Source: Wolters Kluwer
Regulatory requirements and the financial risk imperative are driving the need for a consolidated view across all businesses and across all types of risk, including market, credit and liquidity risk. At the same time, demand for this information is expanding beyond the traditional domain of the chief risk officer. Increasingly, compliance officers and finance departments want access to this data, to drive their own analyses.
The data sets required to meet these new requirements varies between functions, businesses and financial instruments, and by geography and regulatory environment. The result is a highly complex data requirement.
Many Tier 1 and Tier 2 financial institutions have a global presence that may give them operations in many countries covered by several regulatory regimes, each with its own specific reporting and data requirements.
These large firms may have been enlarged or indeed created through mergers and acquisitions, adding different businesses and again new territories in which to operate as this M&A activity continues.