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With its strong emphasis on data governance and risk aggregation, BCBS 239 will require affected parties – even those who believe they have instituted sufficiently robust controls – to ‘show the workings’ of the data collection, validation and aggregation processes underpinning their risk and capital adequacy calculations.
Designed to address the ongoing complexity of many financial institutions, BCBS 239’s 14 principles are now forcing firms to draw upon multiple data sets in order to meet their reporting requirements. For many, banks may have to collate a wide range data that could include portfolio positions, client information, financial accounts, market data, organizational structure data and reference data.
Download this white paper researched by Data Management  Review and produced by A-Team Group, and learn how the crucial aspects of a winning approach to operational risk management in general, and BCBS 239’s risk data aggregation requirements in particular, are the design, development and ongoing maintenance of a flexible and responsive data warehouse and master data management environment.