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

BCBS 239 and Beyond: Avoid the Traps and Navigate the Changing Landscape

Subscribe to our newsletter

The incoming Head of the Financial Conduct Authority (FCA), reiterated the significance of The Senior Management Regime (SMR), which became law on 7th March. This gives executive management legal responsibility for their decisions.

BCBS 239 regulates assembly of data used for these decisions. Individual managers are accountable for decisions they take and for ensuring data is fit for purpose. The FCA state: “Managers cannot delegate responsibility”.

BASEL III/CRR/CRD/COREP/FINREP reporting places heavy demands on data governance and architecture in terms of risk data aggregation and reporting for critical decisions.

From governance and architecture perspectives, these demands pale in comparison to the rigour required for Data Privacy and Information Security legislation to be implemented in 2017/2018. The personal and financial penalties are enormous:

  • Corporate fines of up to 4% of global turnover
  • Personal fines, disbarring from the industry and criminal sanctions

It is essential that all staff producing, transforming, consuming or controlling data are aware of the Principles and their role in the chain of producing quality data.

The EDMworks BCBS 239 Key Facts and Impacts eLearning course can be taken at your convenience. Click the following link to find out more: https://lms.edmworks.com/mod/page/view.php?id=605

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Navigating a Complex World: Best Data Practices in Sanctions Screening

As rising geopolitical uncertainty prompts an intensification in the complexity and volume of global economic and financial sanctions, banks and financial institutions are faced with a daunting set of new compliance challenges. The risk of inadvertently engaging with sanctioned securities has never been higher and the penalties for doing so are harsh. Traditional sanctions screening...

BLOG

Banks Should Optimise Collateral in 2026 to Lay the Groundwork for Greater Efficiency and Innovation

By James Pike, Chief Revenue Officer and Head of Strategy, Taskize. Collateral teams have been tested in 2025. Banks have weathered multiple bouts of high volatility, including the fallout from ‘Liberation Day’ and sell-offs over fears of a possible AI bubble. Sharp spikes in volatility across multiple asset classes have the potential to disrupt collateral...

EVENT

AI in Data Management Summit New York City

Following the success of the 15th Data Management Summit NYC, A-Team Group are excited to announce our new event: AI in Data Management Summit NYC!

GUIDE

Corporate Actions 2009 Edition

Rather than detracting attention away from corporate actions automation projects, the financial crisis appears to have accentuated the importance of the vital nature of this data. Financial institutions are more aware than ever before of the impact that inaccurate corporate actions data has on their bottom lines as a result of the increased focus on...