BASEL II: Everyone is in the Risk Business Now
by Debi Ashenden - Managing Consultant, QinetiQ Trusted Information Management - Tuesday, 20 May 2003.
This is not speculation; Basel II encourages an integrated risk management approach - information will need to be reported as an aggregate measure and across different business functions. However, it is no use measuring performance if you haven't agreed parameters which reflect the scope of the bank's different operations or the interdependence of different departments. Risk is now a matter for all departments of the banking operation.

While Basel II embodies the banking community's ongoing commitment to improving its governance and operational procedures, it is clear that banks' IT departments will need to work very closely with colleagues in many disciplines to develop the necessary systems for achieving compliance. IT Directors will need to show strong leadership; but they will need understanding and backing from the boardroom to meet this vital requirement.

QinetiQ Trusted Information Management is a business security specialist.

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