Skip to content

FRM Part II · FRM Exam Part II · Risk Reporting

Under BCBS 239, which statement best describes the responsibility of a bank's board and senior management for risk data aggregation and reporting?

The board and senior management must ensure governance and accountability for risk data quality and that data architecture and IT infrastructure support aggregation and reporting in both normal times and stress. It cannot be left solely to IT or auditors, nor limited to crisis periods.

  1. AIt is delegated entirely to IT, with no board involvement
  2. BIt is the sole responsibility of external auditors
  3. CThey must ensure governance, including accountability for data quality, and that the bank's IT architecture supports aggregation and reporting, including in stressCorrect
  4. DIt applies only to banks in stress, not in normal times

Explanation

BCBS 239 sets overarching governance and infrastructure principles: the board and senior management are responsible for data aggregation and reporting frameworks, including data architecture and IT infrastructure that work in normal times and in stress. It is not delegable solely to IT or auditors.

Did you get it right without looking?

One question tells you little. A timed set on Risk Reporting shows your real accuracy, how long you take and where you lose marks.

Practise Risk ReportingFree diagnostic mock

More Risk Reporting questions