Important Update on Phase II of the JFSC Supervisory Risk Data Collection Exercise - 28 June 2018
On Monday 11 June 2018 the JFSC invited Industry’s feedback by the 25 June 2018 on the content of the Excel workbooks containing the Phase II risk data. Specifically, we were keen to canvas Industry’s views on whether:
- the questions were easy to understand and, if not, what additional/different wording would aid clarification.
- the use of drop down menus for answers was appropriate and if not, what different or additional answers would assist?
- further questions should be included?
- there were any errors/problems with the functionality of the Excel workbooks themselves (e.g. drop down menus)?
- what the JFSC was asking for in the timeframe was achievable?
Originally, Phase II of the risk data exercise was due to commence during the week commencing 2 July 2018 with the Phase II risk data being required to be returned (utilising the same JFSC Portal technology used to collect Phase I data) by 7 September 2018.
Subsequent to the JFSC’s request a high volume of feedback has been received on the draft workbooks prepared for the different sectors, some of which is very detailed and technical.
The JFSC is grateful for Industry’s assistance in this regard and, in order to give due time and consideration to the feedback received, has in consultation with the National Risk Assessment (NRA) Working Group taken the decision to defer the commencement of Phase II of the risk data exercise to a later date. For the avoidance of doubt, the Phase II risk data exercise will no longer commence next week, the week commencing 2 July 2018. Likewise, the Phase II risk data will not be required to be returned by 7 September 2018.
We will provide you with a further update on anticipated timing for the commencement of the Phase II risk data exercise once all feedback from Industry has been properly reviewed and considered by ourselves.
Should you have any questions, please direct them in writing to the JFSC to the following address SupervisoryRiskUnit@jerseyfsc.org.