Shared Understanding
BCBS 239 risk data aggregation principles drive broader view of available data
With the deadline for compliance with BCBS 239 risk data aggregation principles in Europe set for January 1, 2016, and preparedness seemingly still lacking, fundamentals such as aligning elements of data for the correct meaning in order to support risk management, and taking a broad, holistic view of available data are emerging as a way of being ready to comply.
As part of taking a broader view of data for risk management, some "simplification" is needed, according to John Bottega, principal at
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