Banks must conduct and produce independent reviews, internal audits, reports, and more to ensure FRTB compliance.
This presents significant resource & process challenges, including:
Banks are required to obtain an independent review, and to perform an Internal Audit of their FRTB readiness across their 3 Lines of Defence, and Market Risk Frameworks.
Banks need to ensure the availability of additional FRTB desk-level metrics in reports sent to senior Management & Regulators.
For example, banks will achieve FRTB approval by completing an SAQ with evidence that fully demonstrates their compliance.
FRTB will be subject to Jurisdictional Variance, meaning each region will have unique requirements. Banks must be aware of these variances and act accordingly.
Our Model Governance gives you:
A full independent review of your bank's FRTB readiness & Model Risk Frameworks
Independent, evidence-based reporting on FRTB readiness ready for submission to regulators
Jurisdictional Variance management