Describing IFRS 17 as “the biggest insurance accounting change in decades”, this short article and webcast from EY profiles the seismic changes occurring with a new accounting standard affecting the Insurance industry. It will have some profound implications for the management of data quality and lineage too.
The regulatory landscape has become increasingly complex with ever more requirements on firms and regulators in the area of compliance. Read more on this in the thought-provoking article at the following link.
The European Central Bank are seeking improvements in compliance and encouraging firms to get their BCBS 239 data quality houses in order. Further details on this initiative are contained in an article at the following link.
Take a look at Linear Regression being applied in a new age – this link provides an interesting take on the concepts shown in Moneyball (the film about the use of data analytics in Major League Baseball), including a clip from the film.
For reference, leading firm of solicitors McCann Fitzgerald published the outcomes of Central Bank checks in relation to complying with the new EMIR Trade Reporting requirements at this link.
What an unexpected and unforeseen event! Nassim Nicholas Taleb, acclaimed author of “The Black Swan: The Impact of the Highly Improbable” once opined that “The problem with experts is that they do not know what they do not know”. Your organisation could be vulnerable to other black swan events, such as a cyber-attack on your data.[…]
There are now additional processes to be adhered to. Confidence in data quality underpins accurate AML reporting, as can be seen in the McKinsey article at this link.
We mourn the loss of an hour in bed at this time of the year. But should we think more deeply about this? Would you know if timestamps on historical data had been corrected for DST or not?