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National regulators in an emerging market country are developing guidelines for appropriate risk management responsibilities for different business functions at the country's banks. A regulatory analyst is asked to prepare a report recommending best practices for the firm-wide risk management, audit, and operations functions. Which of the following should the analyst recommend as an appropriate responsibility of the audit function?
A
Analyzing correlation and volatility assumptions in a bank's VaR models
B
Implementing risk management policies related to stock-based compensation
C
Monitoring risk exposures on a day-to-day basis for adherence to a bank's concentration limits
D
Processing confirmations and settlements for trades executed by a bank