Percentile at CFP Stress Testing Europe 2015

Interview

For the Bank Stress Testing Congress, 29th/30th September 2015, the Centre for Financial Professionals (CFP) interviewed Percentile’s CEO Anthony Pereira for insights on understanding regulatory requirements, improving resilience to change, using stress testing as an effective risk management tool, and how the role of the stress testing professional is changing

Key Note Panel

He also spoke on this topic as part of the keynote of the conference.

In short, Anthony’s points:

  • Invest in strategic risk management technology rather than relying on ad-hoc output from other front/middle/back office systems that they work on manually.
  • Have in place a strategic vision of what regulations affect the firm and use this to define the overarching set of priorities. Here the business, risk management and technology teams should work closely together to understand the requirements and constraints and how they will achieve their aims together. This vision and requirements should be reviewed and adjusted regularly.
  • While maintaining a separation between regulatory requirements and day-to-day risk management needs, they should make sure work done for the latter fits in with the strategic requirements.
  • Allow technology to be agile in its methodology and deploy small changes fast. By supporting this as a business, new requirements can be implemented in smaller stages and changes in direction or focus are not expensive to implement.