Risk, data and the supervisor The clock is ticking…: “This paper provides a Deloitte perspective on the recent Basel Committee on Banking Supervision (BCBS) consultative document Principles for Effective Risk Data Aggregation and Risk Reporting. We present a point of view on the regulatory drivers for change within the industry, the implications for banks and discuss the actions that should be undertaken over the coming months. Key findings – While the individual BCBS principles cover specific aspects of risk data management and reporting, it is clear the overall intent is to set a benchmark for what is acceptable in the way financial institutions manage the data and processes needed to understand, control and report risk. The impacts will not be confined to the risk functions, rather there are significant implications for a bank’s risk operating model and, more broadly, how data is managed front-to-back across the bank.”