IAIDQ Asia Pacific Webinar with Mark Bands, ANZ Bank
Data Quality in Banking for Risk Management
The 2008 financial crisis resulted in a greater focus on financial services risk management from both a quantitative and qualitative perspective. This presentation looks at the main issues associated with data quality in banking, demonstrating that data silos continue to be the main cause of data quality issues. The regulatory wave triggered by the financial crisis has not ignored the data-quality issue and a look at the key regulatory concerns, mainly around Basel II and III, is instructive. Additionally we consider best practices banks can leverage to improve data accuracy, quality, and access across the organisation. As a conclusion, we postulate the adoption of a centralised risk data repository as the main tool banks can use to improve data quality and holistic risk governance in this context.
About the Author
Mark Bands is currently the Data Management Lead for the ANZ Institutional Bank’s OTC Derivatives regulatory reform programme. Mark has 20 years of experience in the financial services sector (Business, Operations and Information Technology). Having worked directly for (or on projects for) more than nine financial institutions in fourteen different countries, Mark has created a distinct professional profile in the business information management space. He has carefully crafted a unique blend of cross-disciplinary skills, working with financial information (Reuters), information systems (Macquarie), governance and strategic change management (Credit Suisse) and banking and finance operations (ANZ). With an established global network Mark is internationally recognised and is regularly sought to provide commentary for trade publications, input into research, and is recurrently invited to speak at data management conferences.
About the Author
Ram Kumar is a senior member of the Chief Analytics Office at Insurance Australia Group (IAG), after having worked as Chief Information Officer, Group Chief Technology Officer and Senior Enterprise Architect at IAG. Previously Ram worked in the Enterprise Architecture Group of New South Wales Police, and also as Manager of International IT Open Standards Group at the Organisation for the Advancement of Structured Information Standards in the USA.
Ram is a member of the board of IAIDQ Asia Pacific.