The current market climate has meant that institutions are under serious pressure to cut costs and improve operational efficiency and this may mean they decide to go the outsourcing route, said Liam Davis, vice president of global data management at Northern Trust. “We need to do more with less and provide a higher level of [...]

Institutions should keep a small team of data experts on board in order to adequately monitor that service level agreements are being met by outsourcing providers and data requirements are being catered to by offshore teams, agreed FIMA 2008’s panel on offshoring and outsourcing.

Given the rise of high profile incidents related to rogue trading, a major US bank has worked with business and technology consultant Detica to pull together its data to monitor operational risk across a number of controls in order to provide an effective tool to combating these incidents. Through the process, however, other business benefits [...]