As the January 1, 2016 compliance deadline for BCBS 239 approaches, A-Team Group has published a BCBS 239 Handbook dedicated to the regulation and designed to help data management and data governance practitioners implement its 14 principles successfully.
The regulation embodies the post-financial crisis need for effective and efficient risk data aggregation and reporting across the banking sector, and is expected to become more than a compliance challenge as the principles become the norm in financial markets to ensure risk data is fit for purpose. As banks implement BCBS 239, they are expected to develop effective, efficient and robust operating models that support business benefits including better customer experience, simplified systems and processes, improved risk management, reduced costs and capital allocation, and increased profit.
The BCBS 239 Handbook – one of a series of A-Team handbooks covering topics including regulatory data, entity data and Solvency II – provides an overview of BCBS 239 as well as details on its principles, the data management issues it raises, and its requirement for data that is accurate, complete, timely and appropriate. It also covers the regulation’s governance requirements around data, employees, senior managers and board members, and describes best practice for compliance.
Looking to the future, the handbook considers the future of BCBS 239 in terms of its implementation timeline for both global and domestic systemically important banks, and its long-term effect on not only individual banks, but also on the banking sector as a whole. The A-Team BCBS 239 Handbook is sponsored by FactSet Research Systems.