Australia

Details

  • Service: Advisory, Management Consulting, Business Intelligence & Analytics, Risk Consulting, Financial Risk Management
  • Industry: Financial Services
  • Type: Business and industry issue
  • Date: 30/05/2014

Frontiers in Finance – Data, analytics and technology

Frontiers in Finance
We explore why data, analytics and technology are central to the operating model of financial services organisations and importance of the CIO role.

Frontiers in Finance

KPMG's global financial services industry magazine, providing informed perspectives on current and future trends and developments.

Rebuilding and reinforcing risk data infrastructure for banks 

Banks need more accurate, timely management information on the risks they face. A consolidated risk data infrastructure improves strategic decision-making and enables better regulatory reporting.

The financial crisis revealed the inadequacy of banks’ risk data systems, with institutions frequently unable to provide up-to-date reports on risks and exposures. This undermined confidence and led regulators to focus on the quality of risk data and supporting systems and processes.


Most banks do not aggregate, store and analyse data in a coordinated fashion. Reports are often compiled manually at great expense, are inaccurate and/or incomplete, and arrive too late to influence trading and operations. It can take as long as 60 days to compile a group-wide set of risk figures.


Key questions for management

  • Do you have a fully automated system for collecting and analysing data?
  • Is there a single owner of all your risk data?
  • Have you defined your organisational risk architecture?
  • Are you confident about the accuracy and timeliness of risk data reporting? 

 

 

This article is an extract from Frontiers in Finance – Data, analytics and technology.

 

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