Does your organisation meet the BCBS239 principles?
The Basel Committee for Banking Supervision (BCBS) is the committee of global banking supervisory authorities that frames guidelines and standards on key supervisory issues. It promotes regular cooperation, enhances understanding and improves the quality of banking supervision worldwide.
Banks in South African face significant challenges with their programmes to implement the BCBS’s Principles for Effective Risk Data Aggregation and Risk Reporting (BCBS239). See table below. Our financial industry recognises the importance of the principles as a compliance imperative as well as a tactical and strategic enabler. Significant amounts of time and money are being invested and will continue to be invested in establishing data offices and compliance initiatives or programmes.
BCBS239 compliance will deliver a more robust, sustainable, and responsive risk management capability.
BCBS 239 PRINCIPLES
2. Data Architecture & IT Infrastructure
3. Accuracy & Integrity
7. Reporting Accuracy
9. Clarity & Usefulness
BCBS 239 FOUNDATION AREAS
A. Group Wide Data Management Framework
B. Risk Data Standards & Requirements
C. Enabling Architecture& Infrastructure
Many banks that have followed a principles-based approach to comply with the individual principles, which has shown to be costly, complicated and time consuming. At APRS we have developed a competency-based approach for our client which is executable, practical, and cost effective to achieve fast and efficient BCBS239 compliance requirements.
See an illustration of our competency-based approach below:
APRS provides a current state assessment to meet regulatory compliance requirements which includes:
• BCBS239 compliance requirements, and
• Identification of existing gaps in current business processes, data management, people, & controls
We will deliver practical proposals to close these gaps using our knowledge and experience from working with multiple G-SIBs and D-SIBs on BCBS239.
Post the engagement, our maturity assessment model acts as a compliance plan to support:
• Execution in business areas and
• Executive management to monitor compliance progress and to mitigate risks.
• The Internal Audit Plan used for BCBS239 compliance audits for reporting to supervisors ®ulators.
To ensure the successful delivery of data and information management compliance programmes we have:
• Developed comprehensiveBCBS239 toolkits, assets, and accelerators.
• Draw from our very experienced specialists, capabilities, and assets.
Head of Data and Information Management
+27 (0) 84 445 5554
A Bank Code is intended to be an affordability assessment to determine the client’s ability to repay their short-term financial obligations. It is therefore used to determine whether a customer is considered an acceptable risk for a bank for a specified amount borrowed over a specified period.
Our credit analysis team have put together a fact-based Credit Risk outlook for South Africa covering the economy, business and consumer confidence, political stability, and a sectoral update.