BCBS 239: Learning from Prime Movers

REPORT PREVIOUSLY PUBLISHED BY OLIVER WYMAN
July 21, 2015
Regulation
Global

Abstract

Since the Basel Committee published the BCBS 239 Principles for Effective Risk Data Aggregation and Risk Reporting (RDARR) in 2013, banks everywhere have encountered major potholes on the road to compliance. The Basel Committee has made bank self-assessments more thorough and precise, and banks have learned more about regulatory expectations and the size of their gaps — and the complexity, cost, and effort needed to close them.

Now is the time for banks to review the direction and pace of their BCBS 239 compliance efforts. If program changes need to be made, executives should be aware and act while time remains. This report explains the issues, and shares the experience of compliance first movers. Many lessons merit consideration as deadlines loom across the sector.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Slowdown Prognosis

2

Moving Smartly

3

Realistic and Achievable Program Scope

4

Straight Line to Outcomes

4

Resolving the Most Pressing Data Issues

5

Balancing Near-Term and Long-Term Investment

6

Changing Regulatory Expectations

7

Increasing Confidence and Pace

7

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