FRM Part II · FRM Exam Part II · Risk Reporting
Under BCBS 239, who holds responsibility for ensuring that the bank's risk data aggregation capabilities and risk reporting practices are subject to strong governance and are adequately resourced?
The board and senior management hold this responsibility. BCBS 239 states that they must ensure strong governance over risk data aggregation and reporting, including adequate resources and ownership of data quality, while IT, auditors and supervisors play supporting or oversight roles rather than ultimate accountability.
- AThe external auditor alone
- BThe board and senior managementCorrect
- CThe IT department exclusively
- DThe regulator's supervisory team
Explanation
BCBS 239 places responsibility for governance, resourcing and ownership of data aggregation and reporting on the board and senior management. IT supports delivery but does not bear ultimate accountability, and supervisors review rather than own the framework.
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