Implementing BCBS239, What does it take?

The Language War in Credit Risk Modelling: SAS, Python or R?

How Finalyse can help

Data governance framework and BCBS 239

Finalyse Risk Data Analyzer

ESG Data Management for ESG Reporting

Back to all services

Risk data management & reporting factory

How to maximize business value when implementing regulatory requirements for data management?

Designed to meet data management regulatory requirements for banks and insurers

In recent years, financial institutions have increasingly prioritized the establishment of an efficient and centralized Enterprise Data Management Framework.
Since 2013, with the introduction of BCBS239 principles and growing requirements from Regulatory Authorities for detailed reporting and calculation specifications, adopting a centralized data management framework and robust data governance has become imperative.

How does Finalyse address your challenges?

Audit

We adapt to the client context, data awareness and level of compliance with BCBS 239

Implement

From source to report, from feasibility study to BaU, we simplify redundant data transfers & manipulations

Focus on Value

We prioritize effort and processes to maximize business value increasing data ownership, commitment and comprehension across departments

Organise

We define clear roles and responsibilities with robust data governance and final reporting based on signed-off data

Strengthen

We bring best practices and hands-on tools at each step

Long term change:

Step by step, we help you to turn into a data-driven organisation relying on better risk management reporting capabilities based on higher data quality

To get all your questions answered

How does it work in practice?

Finalyse recommends a top-down approach, beginning with report analysis, to reveal dependencies among business functions, IT, and Data Offices throughout the project's lifecycle. This is achieved through a set of clearly defined deliverables for each iteration.

Data Management Framework: Finalyse Approach to successfully deliver BCBS 239

Main deliverables completed in the steps of the Implementation Process ( as in above chart) are briefly detailed hereunder:

1. Implementation process

Manage your Program

Shift to Agile Methodology
Strong Program Mgt. through Tools and RACI matrix
Clear business value-oriented steering
Involve all departments from an early stage

2. Definition Business Requirements

Reach the regulatory goals and benefits

Prioritize business requirements for the defined scope (reporting, calculation etc.).
Shared approach between departments to align on data needs and terminology.

3. Data Delivery Process

Design frameworks and guidelines for data aggregation and transformation

Scrutinize the overall solution design and data architecture supporting the calculation, transformation and aggregation of in-scope metrics and relevant underlying data elements.
Clearly identify which data is needed for what purpose and when (e.g. frequency, SLA).
Specify technical requirements to ensure metrics and underlying data are accurately transformed and aggregated.
Ensure that data is available at the correct level of granularity for aggregation and reporting.
Draft strong documentation

4. Data Optimization

Build a sustainable, simplified and harmonized solution

Refine data models and system architecture to simplify the overall calculation and reporting processes, eliminating potential inefficiencies and silos.
Investigate root cause of Data Quality issues stemming from poor data model design and provide recommendations on remediation plans.
Establish the single most trusted version of any data that is to be used consistently across multiple systems / applications and/or processes.

5. Data Validation Process

Implement process efficiency and build trust

Streamline testing activities to leverage synergies across the data lifecycle.
Powerful Finalyse inhouse data validation platform ready to use in your organization.
Define functional and technical test-case to be executed by each participant in all steps of the data delivery.

6. Data Governance and Data Quality framework

Safeguard your achievements

Define an overarching control framework that covers the breadth of the reporting process and the entirety of the data lifecycle.
Build robust risk and finance data reconciliation processes
Institute forums to ensure effective communication around Data Quality issues and dimensions (accuracy, completeness, uniqueness,..).
Define what compliance means to you (BCBS239 and DAMA DMBoK principles leaves room for a tailored approach)
Finalyse hands-on toolkit to assess and monitor data quality framework

Key Features

A hands-on top-down approach focusing on business value, shared across the departments involved in the project (Risk, Finance, IT, Data Offices).
Data Governance framework documenting Roles and Responsibilities through a RACI matrix that enable ownership through your entire data life-cycle.
Providing a holistic assessment of the entire data delivery process ensuring that critical data elements are accurately transformed and aggregated through an optimized reporting stream.
Build trust in your data by using our powerful inhouse data validation platform to streamline testing activities.
An efficient Data Quality Framework by shaping our monitoring toolkit and quality risk metrics based on your challenges.

Download the Brochure

Our subject matter experts

THOMAS GILLET

Partner - Risk Advisory Banking, Data Management Framework Implementation Expert

Through his consultancy career, Thomas has developed a sharp expertise in financial products, data quality, processes and (regulatory) reporting. He has gained thorough experience in data modelling techniques and reporting tools when building Data Warehouse / Datamart projects & Reporting Framework for the Market Risk & ALM departments of several banking institutions. He developed a strong experience in BCBS 239 implementation projects, tackling data quality issues and putting in place data governance framework.

HUGO WEITZ

Principal Consultant - Data Management Framework Implementation Expert

Hugo is a Principal Consultant in Finalyse Brussels. He has a wide knowledge and expertise in financial products, valuation algorithms, reporting and regulatory issues. He combines in depth knowledge of banking financial risks and regulations with a wide understanding of the data, IT infrastructure and processes underneath. Hugo has been involved in multiple Risk and Regulatory Reporting implementation projects such as RWA calculation for credit risk, EAD calculation under SACCR, automation of internal reports for ALM and implementation of data governance to comply with BCBS239. Hugo is an experienced Agile project manager who stands-out for his dynamism, adaptability and interpersonal skills.

MARIA NEFROU

Managing Consultant - Data Management Framework Implementation Expert

Maria Nefrou is a Managing Risk Consultant in Finalyse Brussels with extensive experience in Data Management, having recently acted as Program Manager for the BCBS 239 Implementation at a major Dutch bank, steering upon main stakeholders and reporting to management and the regulator. Maria has a more than 10 years of experience in Banking, particularly on Risk and Regulatory reporting. She has taken up different roles related to: Business Implementation Management; QRM Reporting Implementation; Enablement of Credit Risk models (PD, LGD, EAD) for IFRS 9 purposes (ECL, SICR) using SAS while performing quality controls and acting as a Process Manager within the project team.

MANFREDO BENVENUTO

Managing Consultant - Data Management Framework Implementation Expert

Manfredo is a Managing Risk Consultant in Finalyse Brussels. He is an expert in Regulatory Calculations and Reporting in the financial sector; he worked in both Banking and Insurance business. He has wide experience with Pillar I (Solvency 2, CRR/CRD IV) and Pillar III solutions (QRTs, COREP, Pillar 3). Manfredo has extensive experience in migration projects and implementation of business driven ambitions within IT integrated architectures. Manfredo has deep knowledge of BCBC239 principles and the RDARR capabilities with a focus on Data Governance. He is a Product Owner and a certified SAFe Agile Scrum Master.