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BCBS 239: An Urgent Call to Overhaul Risk Data Management
BCBS 239 is a wide ranging regulation including 14 principles spanning risk data aggregation and reporting, IT infrastructure, and data governance. Implementation can provide significant business benefits, including an enterprise-wide view of risk, but the task is not without difficulties as banks face data management challenges such as data silos, legacy systems and poor data…
Tata Consultancy Services Details a Strategic Approach to BCBS 239 Compliance
As the January 2016 deadline for compliance with BCBS 239 approaches, banks are making substantial data management changes in order to meet the regulation’s requirement for on-demand enterprise-wide risk data aggregation and reporting. The task is not easy and includes data management challenges posed by data silos, legacy systems and poor data governance practices, but…
Talking Data Management with Andrew Delaney: Back and Bigger Than Ever
Excitement is mounting here at A-Team towers as we put the finishing touches to the agenda for our Data Management Summit conference in London on October 1. And of course, right behind it is our planned summit in New York on November 3, of which more later in a future edition of this missive. We…
Talking Intelligent Trading with Sarah Underwood: The Scapegoat of the Libor Scandal
The conviction of former UBS and Citigroup trader Tom Hayes on eight counts of conspiring to rig the Libor benchmark and the handing down of a 14-year jail sentence hit the headlines big time. The judge said Hayes was the centre of the conspiracy, the Serious Fraud Office acting as prosecutor said he was motivated…
Opinion: ECB AnaCredit Project Will Subject Reference Data to a New Level of Scrutiny
By David Attenborough, Business Development Manager EMEA, AxiomSL The European Central Bank (ECB) is increasing its focus on credit risk. As part of the Analytical Credit Dataset (AnaCredit) project, it plans to create a centralised register of granular data about the credit granted by financial institutions in Europe to the non-financial sector. The regulator is…
Joining up your regulatory response: BCBS 239 attestation and the new Senior Manager Regime (SMR)
By Dennis Slattery, CEO, EDMworks The Financial Conduct Authority (FCA) is pushing forward with a strategy requiring senior managers to sign written statements or “attestations” in which they personally confirm their firm’s compliance with particular regulatory requirements. But it’s not just the FCA as global regulators are pursuing similar agendas. BCBS 239 being a case…
A-Team Webinar Discusses the Challenges and Opportunities of Risk Data Management
Risk data management has become a focus for many financial institutions, not only as a means to comply with incoming regulations, but also as the basis of business benefits ranging from reacting quickly to deteriorating situations to optimising capital requirements and cutting operational costs. A recent A-Team Group webinar discussed the growing importance of risk…
Solving the Operational Risk Management Puzzle
Operational risk management has emerged as a major challenge as a slew of regulations affecting financial institutions across the board – from universal banks to insurance companies and their asset servicers – aims to boost transparency in order to mitigate systemic risk. The emerging regulations are emphasizing data governance and requiring firms to ‘show their…
Opinion: Why the Client On-Boarding Conundrum Will Fuel Master Data Management (MDM) in Capital Markets
Neill Vanlint, Managing Director of EMEA and Asia for GoldenSource, explains how MDM can provide answers to the client on-boarding challenge facing financial institutions. Taking one step forward and two steps back – that’s what it must feel like for financial institutions at the moment. You could be forgiven for thinking that finding a solution…
MoneyMate Rebrands Fund ProductMaster Platform as Accudelta and Extends Capabilities
MoneyMate Group has rebranded its Fund ProductMaster managed data service to Accudelta, creating a separate business line for the service that will sit alongside the group’s utility for secure data sharing, Silverfinch, and its market data vendor, Longboat Analytics. The rebrand coincides with improvements to the data distribution platform, including the addition of support for…