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: Are Your Legacy Voice Recordings a Compliance Time Bomb?

Recent enforcement actions underscore the importance of maintaining accurate, secure and up-to-date voice and electronic communication. For some organisations, legacy voice recording systems are not at or beyond end-of-life, posing significant compliance, operational and financial risks. These outdated systems often fail to meet evolving regulatory expectations around data authenticity, retention, and accessibility. Delaying action increases...

BLOG

Data Readiness is No Longer Optional for Banks

By Stuart Harvey, Chief Executive of Datactics. In a landscape marked by increasing regulatory scrutiny and accelerating digital change, data has long since shed its role as a by-product of banking operations and is now a critical strategic asset. The speed at which institutions must demonstrate data integrity, quality, and accessibility has made compliance not...

EVENT

AI in Capital Markets Summit London

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

The DORA Implementation Playbook: A Practitioner’s Guide to Demonstrating Resilience Beyond the Deadline

The Digital Operational Resilience Act (DORA) has fundamentally reshaped the European Union’s financial regulatory landscape, with its full application beginning on January 17, 2025. This regulation goes beyond traditional risk management, explicitly acknowledging that digital incidents can threaten the stability of the entire financial system. As the deadline has passed, the focus is now shifting...