Financial Risk Manager Part 1
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In evaluating a bank's risk data management practices, the Chief Risk Officer (CRO) notes that the Basel Committee has put forward a set of principles aimed at promoting strong and effective risk data consolidation. Which of the following statements best describes a guideline that a bank should follow, according to the Basel Committee’s recommendations for effective risk data aggregation and reporting?
In evaluating a bank's risk data management practices, the Chief Risk Officer (CRO) notes that the Basel Committee has put forward a set of principles aimed at promoting strong and effective risk data consolidation. Which of the following statements best describes a guideline that a bank should follow, according to the Basel Committee’s recommendations for effective risk data aggregation and reporting?
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A
The integrity principle recommends that data aggregation should be completely automated without any manual intervention.
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B
The completeness principle recommends that a financial institution should capture data on its entire universe of material risk exposures.
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