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BCBS 239 – It’s time

Basel Committee on Banking Supervision
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BCBS will also have a significant impact on the following fields:

  • Data Management: significantly higher data quality will be expected across all departments throughout the company, with a particular focus on the quality of risk data and consistency requirements. Although the responsibility lies at the board level, it will be necessary to establish a data governance framework and to document it.
  • Risk Reporting: In the future, reporting needs to be faster, more flexible and easier to understand for the user. Because of this, the level of automation should be significantly increased, and report generation has to be accelerated. In many organizations, however, reports are currently being "manually" created by using the “throw people on it” idea.
  • Business and IT Management: BCBS 239 must be reflected in the IT strategy and in the development of the IT landscape. How can this happen? Here, we need to understand how IT and data currently relate to each other, and how they will relate in the future. What happens during certain technological changes or changes in strategic direction? Will the company still be BCBS 239-compliant within acceptable levels?

How can an enterprise architecture approach help?

Enterprise architecture – because it is a design, planning and analytically-oriented function in the company - already offers the specific methods and approaches to create the necessary foundation for a lean implementation of BCBS 239.

Enterprise architecture provides a structured view of your IT architecture, data architecture and process landscape, while helping you to plan a risk-optimized target architecture. In a central repository (single source of truth) - as required by BCBS 239 – all relevant information and relationships are stored and documented. A central portal provides wiki-like information, but better structured, with well-defined model integrity mechanisms. Data models, data flow diagrams, process diagrams, architectural sketches with attached documents, automatically-generated risk reports and dashboards help you to better understand impacts, evaluate risks and compare scenarios easily, without much manual work.

An enterprise architecture should not only support the documentation, planning and analysis of data and IT architecture. At MEGA, we strongly believe that enterprise architecture should and can add value within the different departments of the company. This is why we offer our customers solutions that link enterprise architecture with risk management. Risk management supports companies in their process of risk identification, risk assessment and risk treatment while using the same process, IT and data model information.

As required by BCBS 239, risk-relevant information should be consistently captured and stored. The demand for faster, more automated and flexible risk reporting can be easily met by leveraging a central repository.

Timeframe:

If you have not thought about it yet, you should definitely start as soon as possible. Globally relevant banks must implement BCBS 239 by 01.01.2016, while national banks have a little bit more time. As already mentioned, MaRisk will become obligatory for all banks in Germany.

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Sources:
http://www.pwc.de/de/finanzdienstleistungen/banken/bcbs-239-eine-herausforderung-nicht-nur-fuer-global-systemrelevante-banken.html
https://bankinghub.de/banking/technology/regulatorisch-geforderte-datenqualitaet

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Comment

BCBS will also have a significant impact on the following fields:

  • Data Management: significantly higher data quality will be expected across all departments throughout the company, with a particular focus on the quality of risk data and consistency requirements. Although the responsibility lies at the board level, it will be necessary to establish a data governance framework and to document it.
  • Risk Reporting: In the future, reporting needs to be faster, more flexible and easier to understand for the user. Because of this, the level of automation should be significantly increased, and report generation has to be accelerated. In many organizations, however, reports are currently being "manually" created by using the “throw people on it” idea.
  • Business and IT Management: BCBS 239 must be reflected in the IT strategy and in the development of the IT landscape. How can this happen? Here, we need to understand how IT and data currently relate to each other, and how they will relate in the future. What happens during certain technological changes or changes in strategic direction? Will the company still be BCBS 239-compliant within acceptable levels?

How can an enterprise architecture approach help?

Enterprise architecture – because it is a design, planning and analytically-oriented function in the company - already offers the specific methods and approaches to create the necessary foundation for a lean implementation of BCBS 239.

Enterprise architecture provides a structured view of your IT architecture, data architecture and process landscape, while helping you to plan a risk-optimized target architecture. In a central repository (single source of truth) - as required by BCBS 239 – all relevant information and relationships are stored and documented. A central portal provides wiki-like information, but better structured, with well-defined model integrity mechanisms. Data models, data flow diagrams, process diagrams, architectural sketches with attached documents, automatically-generated risk reports and dashboards help you to better understand impacts, evaluate risks and compare scenarios easily, without much manual work.

An enterprise architecture should not only support the documentation, planning and analysis of data and IT architecture. At MEGA, we strongly believe that enterprise architecture should and can add value within the different departments of the company. This is why we offer our customers solutions that link enterprise architecture with risk management. Risk management supports companies in their process of risk identification, risk assessment and risk treatment while using the same process, IT and data model information.

As required by BCBS 239, risk-relevant information should be consistently captured and stored. The demand for faster, more automated and flexible risk reporting can be easily met by leveraging a central repository.

Timeframe:

If you have not thought about it yet, you should definitely start as soon as possible. Globally relevant banks must implement BCBS 239 by 01.01.2016, while national banks have a little bit more time. As already mentioned, MaRisk will become obligatory for all banks in Germany.

*********

Sources:
http://www.pwc.de/de/finanzdienstleistungen/banken/bcbs-239-eine-herausforderung-nicht-nur-fuer-glob...
https://bankinghub.de/banking/technology/regulatorisch-geforderte-datenqualitaet