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From principles to practicalities
Addressing Basel risk data aggregation and reporting requirements
In January, 2013, the Basel Committee on Banking Supervision (BCBS) issued the document Prinicples for Effective Risk Data Aggregation and Risk Reporting. This guidance, directed to Global Systemically Important Banks (G-SIBs) and their supervisors, sets expectations regarding management and reporting of risk data. G-SIBs must adhere to these risk data aggregation and reporting (RDAR) principles by the end of 2015. This paper examines some of the key issues raised by RDAR principles in order to flag challenges and foster discussion and planning.
Addressing deficiencies will require a holistic approach as an institution translates capability gaps into actionable steps that impact related elements of the infrastructure. This paper explores potential ways that these deficiencies may be addressed by:
- Explaining the story so far
- Providing a summary of the RDAR principles
- Parsing the principles
- Giving questions to consider
- Developing a framework for implementation