About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

A-Team Webinar Discusses BCBS 239 Compliance Ahead of January Deadline

Subscribe to our newsletter

The journey towards BCBS 239 compliance continues with global systemically important banks expected to be able to satisfy supervisors when the regulation comes into effect on January 1st 2016. Other banks that are not yet within the scope of the regulation are also making progress, considering how they will comply with the 14 principles of the regulation and realise the potential business and operational benefits of a successful implementation.

The state of play among banks that must meet the January deadline, the extent of implementation work that will continue into 2016 and beyond, and the benefits of compliance for both individual banks and the banking sector as a whole were discussed during this week’s A-Team Group BCBS 239 webinar. The webinar was moderated by A-Team editor Sarah Underwood and joined by Karthik Rajaraman, a data management professional at an international bank; Koen Van Duyse, subject matter expert in regulatory compliance at Collibra; and Matthew Rawlings, head of middle office and operations at Bloomberg.

The webinar participants focussed on the principles-based rather than prescriptive nature of BCBS 239, which means the regulation is open to interpretation by local regulators and is likely to be more of an ongoing programme for banks rather than an opened and closed compliance project. Principles raising most cause for concern include those covering risk data aggregation, which can be a significant cost burden, senior management accountability for data and processes, and the capability to provide data lineage.

While the participants agreed that BCBS 239 is one of the most invasive regulations to hit the banking industry, they concluded that it will help banks become as data savvy as organisations in other industries and establish data as a business asset.

To find out more about:

  • The scope of BCBS 239
  • Challenges posed by the regulation
  • Cost-effective approaches to compliance
  • Ongoing implementation plans
  • Business and operational benefits

Listen to the A-Team webinar here.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Adding value and improving efficiencies in sanctions screening

Sanctions have been headline news this year. They are growing in number, sanctions lists are changing on a daily basis, and there can be conflict between sanctions issued by different jurisdictions – the whole calling for financial institutions to optimise sanctions screening to reduce risk and avoid potentially punitive penalties of non-compliance. This webinar will...

BLOG

MarkLogic Revitalises Roadmap with Smartlogic Integration and Entry into ESG Market

MarkLogic has taken significant steps since its October 2020 acquisition by Vector Capital, a private equity firm investing in established technology businesses. Among them are the acquisition and ongoing integration of Smartlogic, provider of a semantic AI platform that contextualises complex information; a move into the ESG market; and a revitalised roadmap. MarkLogic acquired Smartlogic...

EVENT

Data Management Summit New York

Now in its 13th year, the Data Management Summit (DMS) in New York brings together the North American, capital markets enterprise data management community, to explore the evolution of data strategy and how to leverage data to drive compliance and business insight.

GUIDE

ESG Data Handbook 2022

The ESG landscape is changing faster than anyone could have imagined even five years ago. With tens of trillions of dollars expected to have been committed to sustainable assets by the end of the decade, it’s never been more important for financial institutions of all sizes to stay abreast of changes in the ESG data...