Data Dependence Day: Risk Data Aggregation Challenges with FRTB and SA-CCR

No longer the ugly underbelly of banks’ inner workings, risk data and its myriad of challenges are now front and center under the regulatory spotlight. It is Data Dependence Day.

Banks who don’t tackle critical risk data and risk data management tasks as part of their Fundamental Review of the Trading Book (FRTB) and SA-CCR response will put at risk the accuracy of key data that underpins the onerous calculation and reporting requirements of the regulations – from evidencing market data observations and reconciling price observations, to ensuring independent price verifications and making the case for the Internal Model Approach (IMA)  which requires access to a wide range of historical data and proxy risk factors.

These risk data and risk data management tasks will be a major driver for the massive transformation of technology and systems across banking.

On November 9th, 2016 guest speaker Virginie O'Shea of global research advisory firm Aite Group explored the risk data challenges presented by FRTB and SA-CCR. She narrowed in on pain points around aggregation of risk data and discussed how some firms are approaching them.

MS. O’SHEA ADDRESSED THE FOLLOWING TOPICS:

  • The state of play in terms of primary challenges that financial institutions are facing when examining the practicalities of the risk data components of these regulations
  • Current inefficiencies that must be overcome in order to comply with risk data requirements
  • The ideal framework for regulatory compliance –what does that really look like in reality?
  • How some firms are approaching the problem – case examples of banks that have already started down the road. What kinds of teams have been established? What kinds of technologies are in the frame? What hurdles have been faced thus far?
  • Key takeaways and lessons learned

 

Attendance is complimentary, Registration is required. Space is limited, reserve your seat today!

Featured Speaker:

Virginie O'SheaVirginie O’Shea, Research Director, Aite Group
Virginie O’Shea is a research director with Aite Group, heading up the Institutional Securities & Investments practice and covering data management, collateral management, legal entity onboarding, and post-trade technology. She brings to the firm more than 13 years of experience in tracking financial technology developments in the capital markets sector, with a particular focus on regulatory developments and standards.

Ms. O’Shea has spoken at industry conferences including Sibos, TradeTech, FISD events, and ISIPS, and is actively engaged in a number of post-trade industry standards groups. Most recently, Ms. O’Shea was managing editor of A-Team Group’s flagship publication, A-Team Insight, where she covered financial technology from the front to back office, including trading technology, market data, low latency, risk management, regulatory impacts on IT, and reference data. During her time at the firm, she was heavily involved in planning risk and data management events and creating multimedia offerings, including podcasts, webinars, and video interviews. Prior to this, Ms. O’Shea was group editor of Investor Services Journal and Alternatives magazine, focused on the asset servicing and buy-side communities. Before that, she was editor of STP Magazine and online service stpzone.com, where she focused on financial technology in the capital markets.

Jim JockleModerator: Jim Jockle, Chief Marketing Officer, Numerix
Mr. Jockle leads the company's global marketing efforts, spanning a diverse set of solutions and audiences. He oversees integrated marketing communications to customers in the largest global financial markets and to the Numerix partner network through the company's branding, electronic marketing, research, events, public relations, advertising and relationship marketing.

Prior to joining Numerix, he served as Managing Director of Global Marketing and Communications for Fitch Ratings. During his tenure at Fitch, Mr. Jockle built the firm’s public relations program, oversaw investor relations and led marketing and communications plans for several acquisitions. He also oversaw the brand development of a new company dedicated to the enhancement of credit derivative and structured-credit ratings, products and services. Prior to Fitch, Mr. Jockle was a member of the communications team at Moody's Investors Service.

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