What is Starfish ?
Banks applying for advanced risk management approaches will need a waiver
from the FSA whether going the IRB or AMA route.
This will require the demonstartion of detailed analysis that the bank
has undertaken. Starfish is our newly released Self Assessment
(Section 2 & 5 of WAP) tool and will help firms ensure that all of the key
requirements have been considered and address FSA expectations
when considering the waiver.
All banks have to submit their waiver applications for the advanced approaches by the end of 2006.
Part of the waiver application includes a self Assessment or use test of compliance against the CRD for the entire organisation.
Starfish ties in the bank's policies to the various documents that need to be considered during this process.
- BIPRU document has been integrated and is updateable
- GENPRU document has been integrated and is updateable
- CRD document has been integrated and is updateable
- Reporting to show current status