How Risky Is Your Risk Information?

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Executive Summary

A well-designed approach to managing risk information is a critical component of a superior risk management programme. A high-quality risk information management programme continues to be a blind spot and elude even the largest of financial institutions (FIs). For example, risk management at many large FIs has proved ineffective in organizing their risk information to model the risk of complex structured products. This paper shows how inferior information quality adversely affects risk management. It then discusses ways to assess the quality of risk information in financial institutions as well as showing how to address this problem in a cost-efficient manner.

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