Risk and Regulations
Risk management and regulatory reporting used to exist in separate domains, run by separate teams. The risk management team saw little benefit, or even little sense, in the content of regulatory reporting. On the other hand, for risk-related reporting, the regulatory reporting team mediated between the regulators and the risk management team. Very often, different data sets were used for internal management reporting and regulatory reporting. Senior management quite often paid scant attention to regulatory reports as the reports' structure did not fit their needs.
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