BCBS 239 defines specific requirements for data storage, data transfer and risk reporting systems at banks. For many financial institutions, implementation involves significant investments in their IT landscape, infrastructure, organisational structure and process organisation of the control areas.
However, targeted implementation also has enormous advantages, such as better information supply and decision support for the Management Board.
The timely fulfilment of the principles for the effective aggregation of risk data and risk reporting poses major challenges for credit institutions. A Group-wide analysis and solution is required that encompasses all Group units, national companies and organisational units.
Furthermore, it is not enough to focus solely on the generated and aggregated risk data; the quality, granularity and consistency requirements also apply to the underlying business and market data.
In order to implement the BCBS 239 requirements in good time, the requirements of the respective institution should be analysed at an early stage. KPMG has therefore derived four areas of action from the principles of the Basel Committee, which can be used to structure the analysis of the current situation and the derivation of implementation requirements:
In view of the structural and far-reaching effects and the involvement of various management and IT areas of the banks in further regulatory requirements (e.g. implementation of FINREP / COREP, AnaCredit, reorganisation and resolution plans or IFRS conversions), an equally efficient and coordinated approach along the four fields of action is essential.
KPMG has a valid project approach, analysis and results templates as well as employees with extensive practical experience in the integration of regulatory requirements and technical solutions. In addition, KPMG works together with well-known manufacturers of innovative data integration and DQM tools to develop efficient, realisable strategic solutions for DQM management.
