cheap thomas sabo charm carriers Three Steps Toward Setting Up a Basel III-Ready Data Warehouse cheap thomas sabo rings sale uk

Lots and Lots of Data

To better appreciate the magnitude of the challenge that lies cheap thomas sabo charm carriers ahead for banks with the cheap thomas sabo rings sale uk coming into effect of Basel 3, let's place it in its proper cheap thomas sabo earrings sale context.

First the financial services industry holds enormous amounts of data - probably more than any other Thomas Sabo Australia cheap sector of thomas sabo chains sale the economy except the technology industry. In fact, to cheap thomas sabo pendants sale uk put this enormity in perspective, a an cheap thomas sabo watches estimate from global consulting discount thomas sabo bracelets firm McKinsey put the size of thomas sabo bracelets sale all bank-stored information at 1 exabyte (EB) - the equivalent of Cheap Thomas Sabo Australia online 1,000,000 terabytes (TBs). Given the inherently sensitive nature of financial data, it would be safe to assume that majority of such stored data would play a part in computing the risk thomas sabo bracelets exposure of any given thomas sabo necklace bank and cheap thomas sabo rings sale also form the basis for the regulatory reporting thomas sabo charms store envisaged in Basel III.

Looking at such copious amounts thomas sabo rings uk of data, it becomes clear that the need for a robust risk data warehouse is more than just thomas sabo charm carriers uk preparing for compliance with Basel III provisions - it is cheap thomas sabo earrings about creating discount thomas sabo necklaces the right thomas sabo rings uk online environment for consolidating and analyzing data that ensures risk management decisions and regulatory thomas sabo pendants sale reports are based on complete, thomas sabo watches uk store correct and uncompromised data. As you would expect, banks have throw hundreds cheap thomas sabo pendants of billions of dollars at their data management concerns over the years (they collectively spent over US$ 330 billion in thomas sabo chains cheap 2011 by some estimates). Yet, even with such huge spending, many incidents continue thomas sabo pendants uk online to show that buying expensive systems is not a silver bullet that leads thomas sabo necklaces uk online to better risk management and stronger internal controls.

Now, throw in the 3 challenges posed by Basel III (locating the right information, thomas sabo earrings converting cheap thomas sabo charm carriers sale data in different formats into a single coherent format and finally, making available that data to the appropriate audience) and you can be thomas sabo bracelets uk online sure that CEOs, CFOs, CROs and thomas sabo earrings uk online CIOs have their work cut out. Yet, the preparation, analysis and management of data for risk analysis and thomas sabo rings regulatory reporting (whether for Basel III or otherwise) can be Thomas Sabo Australia sale condensed into 3 thomas sabo rings cheap major steps:
Step 1 - Integrate Existing Systems

As opposed to the finance department using 5 different applications, credit risk depending Thomas Sabo Australia on 6 systems and human thomas sabo necklaces resources having cheap thomas sabo rings uk 3 thomas sabo necklaces online distinct systems thomas sabo rings sale for employee appraisal, payroll and thomas sabo watches tracking personnel thomas sabo charm carriers store medical insurance, thomas sabo charm the cheap thomas sabo charms sale first step any bank thomas sabo pendants should take to have a seamless risk management and regulatory reporting framework is reducing the number thomas sabo earrings uk of thomas sabo earrings cheap systems, data repositories and thus data formats found within the entire organization.

Transitioning an organization from disparate systems into more cheap thomas sabo earrings uk unified enterprise platforms greatly increases overall efficiency and provides a stable foundation for streamlining data that will thomas sabo carriers sale eventually be fed thomas sabo watches sale into the risk management data warehouse.

In addition, the thomas sabo pendant process thomas sabo charm carriers online of integrating existing systems thomas sabo ring also presents a rare opportunity for executives, line managers, risk officers and IT staff to ‘clean up' processes in great thomas sabo charms online detail thomas sabo charms - some thomas sabo bracelets store form of business process re-engineering. Thus, the cheap thomas sabo bracelets sale integration process ensures the correctness, completeness and integrity of the data thomas sabo charms uk online that will be used for Basel III risk analysis and reporting while at the same time ensuring routine tactical and strategic decisions are based on high quality data.
Step 2 - Develop Risk-Aware Data Models

Let's face it, risk management is not a bank's core business. The constant friction that exists in almost any large bank between risk functions on the one hand (such as risk, audit, compliance and legal) and cheap thomas sabo chains core business functions on the other (operations, discount thomas sabo earrings marketing, customer service etcetera) is clear testament to this fact. Like any other business, banks exist primarily to make money whether it is through traditional bank earnings such as transaction fees, thomas sabo carriers loan interest and foreign exchange trading, or it is via more thomas sabo pendants store sophisticated products thomas sabo earrings store such as derivatives.

For this reason, the natural approach toward structuring risk data warehouse models is creating the models built thomas sabo bracelets uk store around transactions and bank products. It is Thomas Sabo Australia online the thomas sabo charm carriers sale easy way out to avoid ‘upsetting the apple cart'. But as many banks have thomas sabo watches uk online painfully learnt, such an approach to data modelling can make the process of managing risks and filing accurate regulatory reports a thomas sabo watches store tedious and expensive affair especially when regulations are as constantly evolving as they are in the banking industry.

Whereas banks thomas sabo earrings sale are in business to thomas sabo charms uk store make profit, compliance with industry regulation is not an option - it can Cheap Thomas Sabo Australia make the difference between winning public confidence and thomas sabo charms cheap retaining a cheap thomas sabo watches sale uk banking license or losing both. As such, the better and thomas sabo chains online more cost effective approach in thomas sabo necklaces uk store the long run is developing data models that are thomas sabo charm earrings geared towards risk thomas sabo charm chains management and regulatory reporting thomas sabo bracelets cheap but that also do not create roadblocks to the efficient flow of bank process. The data models should capture all vital risk factors, instruments, counter-parties and positions that would go into calculating the market, credit, liquidity thomas sabo carriers online and operational risks outlined under the Basel III accord. thomas sabo rings uk store

This central data warehouse then becomes the sole originator cheap thomas sabo earrings sale uk for management, risk and cheap thomas sabo bracelets regulatory reporting data.
Step 3 thomas sabo bracelet - A Clearly-defined Enterprise-wide Risk, Compliance and Governance Regime

Simply having a centralised risk data warehouse is not enough. thomas sabo earrings uk store Re-aligning reporting structures, redefining job descriptions cheap thomas sabo chains sale uk and removing redundant risk reporting lines cheap thomas sabo bracelets sale uk must go hand in hand with harmonised and risk-aware data warehouse systems.

There are thomas sabo bracelets uk many benefits that thomas sabo necklaces cheap come discount thomas sabo watches with ensuring the bank's reporting structure ensures consistent and accurate risk information. For instance, thomas sabo necklaces sale by harmonising responsibilities and reporting lines on risk and compliance responsibilities, the bank would have specific persons tasked with reviewing and updating data models thomas sabo chain to comply with emerging regulatory thomas sabo necklaces uk frameworks such as Basel 3 and the Dodd-Frank Act. cheap thomas sabo charms

Specific action plans can be created with detailed road maps on how to achieve them and which departments will be involved. The Cheap Thomas Sabo Australia sale online bank's board of directors and executive cheap thomas sabo necklaces uk management thomas sabo charm carriers uk online would also have cheap thomas sabo charms sale uk a clear line of sight on which department or thomas sabo chains store individuals would be responsible for effecting what change. Management and the board thomas sabo chains uk can also thomas sabo carriers cheap be more confident that the risk reports they receive are complete and cheap thomas sabo chains uk are coming from the department(s) that have an enterprise-wide cheap thomas sabo pendants sale view of the risks.