Principle 10: Frequency – The board and senior management (or other recipients as appropriate) should set the frequency of risk management report production and distribution. BCBS 239 “Effective Risk Data Aggregation & Risk Reporting”, released in January of 2013, specifically requires that the bank’s board and senior management should be
Principle 9: Risk management reports should communicate information in a clear and concise manner. Reports should be easy to understand yet comprehensive enough to facilitate informed decision-making. Reports should include meaningful information tailored to the needs of the recipients. While the data management and data aggregation principles have been heavily
Principle 8: Comprehensiveness - Risk management reports should cover all material risk areas within the organization. The depth and scope of these reports should be consistent with the size and complexity of the bank’s operations and risk profile, as well as the requirements of the recipients. One of the four
