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 governance practices.
As the January 1, 2016 deadline for compliance with BCBS 239 approaches, Tata Consultancy Services outlines the challenges presented by the regulation and details a strategic data management approach that can support both compliance and business benefits in a paper entitled BCBS 239: An Urgent Call to Overhaul Risk Data Management.
The paper looks at:
