"One significant lesson learned from the crisis of 2007/8 was banks' data architectures were inadequate for management of financial risks. Many banks lacked the ability to aggregate exposures and identify concentrations at group level, across business lines and between legal entities....."
The purpose of BCBS 239 is to ensure banks have effective risk data aggregation and reporting (RDAR) capabilities for (1) their own internal risk management and (2) for regulators to aggregate data from systemically important banks to monitor and control systemic risks.
The underlying theme of BCBS 239 is to encourage banks to implement effective data architectures and governance structures for the data centric 21st Century. With these capabilities banks can engage effectively with customers, manage risks and run their businesses efficiently and profitably.
Data enters a bank and connects people as it flows through the bank. For this reason anyone creating data, impacting quality or using it to take decisions is potentially impacted by BCBS 239.
Key Facts and Impacts is suitable for all bank staff. It provides a concise overview of BCBS 239 and its impact.
Key staff training is for staff involved in implementing BCBS 239 within their area. It provides in depth explanations of the principles and how they should be implemented.
Senior management Roles and Responsibilities describes how to meet the accountability and attestation challenges of BCBS 239. It explains how BCBS 239 relates to the new Senior Management Regime and emerging best practice in managing critical information.
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