Achieving a 360-degree View of Risk with Data-Driven Insights and Strategies

Technology and data have reached a level of sophistication that is enabling financial institutions to calculate and manage the risks to which their activities and investments are exposed. Leveraging the two, however, is a challenge; if the data isn’t properly managed, the technology that identifies patterns and insights may be unable to operate optimally.

One effective means of achieving this is to take a holistic view of risk by embedding the necessary data within the firm’s corporate structure and making it accessible to all parts of the enterprise. Integrating data in this way enables all parts of the business to work in unison towards identifying risks and establishing strategies to mitigate them.

During a recent roundtable discussion hosted by A-Team Group, leading figures in the financial services and data industries discussed the benefits of, and challenges to, achieving a 360-degree view of risk. Here we review the key debates they had into this critical issue. Among their insights, participants discussed:

• The conceptual drivers and benefits of integrated risk data management;
• The role that data managers play in that transition, including convincing boards of the necessity of such a strategy;
• The importance of mastering data to the successful implementation of a holistic view of risk;
• How a company can – and why it should – sustain the entire enterprise’s interest in that transformation.