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Finalyse - Composing solutions for Finance

BCBS 239:Effective Risk Data Aggregation

Do you know how to turn regulatory obligation to operational and strategic benefits?

The Basel Committee of Banking Supervision has released the BCBS 239 regulation with the objective of creating a more robust data framework for banks. The exact scope of application is to be determined by the bank itself, since the principles’ formulation  leaves room for interpretation. 

We provide tailor-made support to tackle the 3 dimensions of BCBS 239: IT Infrastructure, Governance, Risk data aggregation. We perform, through the Data Dictionary, an assessment on the completeness and correctness of the data provided with respect to the internal and/or binding requirements. This step is followed by the Data Delivery Process which gives an overview of the data workflows, from the legacy systems to the department responsible for the data until the end-user. Finally we offer our Finalyse Data Management Platform, which is designed for an efficient and transparent data management process and allows to drill down any kind of risk figures.

What benefits can you expect?

  • Better risk management due to better reporting capabilities based on higher data quality 
  • Roles and Responsibilities are in place & final reporting based on signed off data 
  • No more redundant data transfers and less workloads & data manipulation 
  • More clarity, comprehension and cohesion across the departments 
  • Robust Data Governance for internal/external audits

Considering BCBS 239 as a regulatory burden might be short-sighted.  A clear view on the data through definition and robust documentation for data governance & internal/external audits allows you to identify the issues at the right moment and to escalate them directly to the responsible department.