While the waves of BCBS 239 will make landfall at different times – depending on the classification of your bank
Today’s financial services industry is flooded by the constant introduction of new regulations. Each new deadline forces companies to reevaluate their current processes and architecture.
January 2013 was the first indication of a worldwide shift in risk data management requirements, with the issue of BCBS 239 by the Basel Committee on Banking Supervision. BCBS 239 mandates that banks adhere to a set of core principles for effective Risk Data Aggregation and Risk Reporting (RDARR) practices as early as the start of 2016.