Exploring the current regulatory environment and opportunities to leverage capabilities from other programs

Exploring the current regulatory environment and opportunities to leverage capabilities from other programs

By Sudeep Chatterjee, Head of QA Horizontal, Global FX Tech, Bank of America.

Could you please tell the risk insights readers a little bit about yourself, your experience and what your current professional focus is?

I am senior technology and operations leader with over 20 years’ experience with top tier Investment banks and Consulting firms managing technology risk through technology and business testing globally for enterprise-wide change and regulatory programmes. I am currently working as Head of Testing Horizontal for Global FX at Bank of America Merrill Lynch. I have previously led testing for large regulatory change programmes like Basel III, MIFID 2, Dodd Frank , Liquidity and Capital reporting, CoRep and FinRep etc.

What, for you, are the benefits of attending a conference like the FRTB Forum and what can attendees expect to learn from your session?

I bring along unique experience to highlight the operational risks to attendees who are involved with regulatory programmes like FRTB particularly around validation and verification of the technology and operational changes before they go live.

What are some of the key considerations when leveraging from other programs?

Some of the key considerations when leveraging from other programs are – understand what data will be used for validation purposes, understand the team and resources who will be involved to validate that the changes done are as accordance to the regulators requirements, have clear requirements which you can pass to your technology partners and that can be easily checked, early planning where the testing will take place and what dependencies (upstream and downstream) needs to be set up for end to end checks

What are some of the main concerns and opportunities surrounding the rest of the Basel IV packages?

Key concern of Basel IV is really the ambiguity around it. There are studies available which suggest the capital shortage European Banks will have but there are no clear guidelines provided by BCBS, EBA or PRA on what the next steps are on Basel regulations.

What are the some of the major impacts of Brexit for risk professionals and the FRTB project?

The major impact of Brexit is really the change of location strategy for banks and UK is no longer a preferred destination to deliver FRTB project. Banks are looking at options in other European cities but due to high concentration of Risk professionals in London this is not an easy problem to solve.

You may also be interested in…

Make your free account

become-a-risk-insights-member-banner-1