Ultimate access to all questions.
A seasoned risk management professional working at an American financial institution is collaborating with the chief technology officer (CTO) to develop effective procedures for aggregating and reporting risk data in accordance with the Basel guidelines. The CTO wants to understand the potential hurdles they might face given the institution's current practices. Among the observations listed regarding the institution's current methods, which would pose the most significant challenge for the bank in meeting the Basel standards for aggregating and reporting risk data?