16 July 2013
London, British Bankers’ Association Enterprises
Avantage Reply hosted a Business luncheon focusing on the challenges faced by financial industry in meeting new regulations that have data capabilities and practices at their core. The event was held at the British Bankers’ Association Enterprises (BBAE), Pinners Hall, 105-108 Old Broad Street, London EC2N 1EX on Tuesday 16 July 2013. This was a thought provoking session, where the views of the regulators and the industry were expressed in and off the record discussion. The event started with a welcoming drink on arrival at 12.00 followed by key note speeches and lunch at 12.15 and finished at 14.00. The Avantage Reply host for the Luncheon was Oleg Lebedev.
In its January 2013 publication of the Principles for effective risk data aggregation and risk reporting, the Basel Committee wrote that "one of the most significant lessons learned from the financial crisis […] was that banks’ IT and data architectures were inadequate to support the broad management of financial risks".
Many in financial industry recognise the benefits of improving their data management capabilities and practices and are working towards this goal. Together with their clients, Avantage Reply acknowledges that these improvements increase efficiency, reduce probability of losses and enhance strategic decision making. They acknowledge that making improvements to the data management capabilities and practices remains a challenge, in particular, in global institutions.
Mr Farrukh Nazir, Risk Specialist, Prudential Regulatory Authority, and Mr Graham Smith, Group Chief Data Officer, Royal Bank of Scotland, have taken part in the session as guest speakers.
Attendance to the event is capped given the format, therefore this Business Luncheon is by invitation only. Should you wish to extend the invitation to a colleague, please contact Mrs. Michelle Cubberley at