Firms need to take a more sophisticated approach to real-time data management
By Martijn Groot, vice president, product
strategy at Asset Control.
In this new era of stress testing, how
many financial institutions risk being grounded by the
financial equivalent of air traffic control for failing to meet
the new, challenging risk requirements? The production of risk
and stress data is no longer a one-off risk management exercise
– it has to be anchored in core operations –
but few financial institutions have amended their data
management strategies accordingly. The truth is that new data
reporting requirements are the final push for organisations
that have resisted the need to radically overhaul strategies.
From stress testing to meeting evolving client demands,
institutions must attain control over the huge volumes of data
– from historical to real time – now required
both operationally within the back office and within the
mid-office risk team.
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