Data governance is a key issue for Credit Benchmark and Contributing Financial Institutions. The governance process needs to cover the principles used in ingest, storage, analysis and publication of contributed data. As part of this process, Credit Benchmark have established two groups which meet quarterly.
The Methodology Committee is a discussion forum for Credit Benchmark and representatives from each Contributing Financial Institution with the stated aim of facilitating continuous improvement in service, data quality and outputs. Topics include:
- Comparability and consistency of contributor data.
- Aggregation methodology and quorate publication rules.
- Calibration standards for summary credit categories.
- Regulatory reporting issues.
- Development priorities for the Credit Benchmark service.
Technical Advisory Group
The Technical Advisory Group is chaired by Tom Aubrey and consists of senior credit risk professionals and academics from Europe and North America. The current members are all independent consultants:
- Damiano Brigo – Currently Professor of Quantitative Finance and Stochastic Analysis, Imperial College London
- Tamar Joulia – Former Head of Credit Portfolio Group, ING
- Randy Miller – Former Head of Credit Portfolio Analytics, Bank of America
- John Hibbert – Financial Risk Manager, Co-Founder of Barrie & Hibbert (acquired by Moody’s)
The Technical Advisory Group provides advice on how Credit Benchmark data can be optimized for contributing financial institutions in their day-to-day credit risk management processes. It also provides peer reviews of published research and insight into how the data can be used in academic research into credit markets.