BCBS 239 - Principles of Effective Risk Data Aggregation and Risk Reporting
Duration: 90 Minutes
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Risk management is a key component of every banking governance framework. This webinar discusses the BCBS 239 standard. The instructor will discuss the critical risk-data aggregation capabilities and internal risk-reporting practices (the Principles) to enhance risk management and decision-making processes at banks.
Vet each principle and review examples of application
Gain perspective of regulatory expectations
Define examples of tools that work
How BCBS 239 integrates into the ERM processes
Why Should you Attend
In January 2015, the Basel Committee published the second progress report on banks' adoption of BCBS 239. Fourteen of the 31 participating banks reported that they would be unable to fully comply with the Principles by the 2016 deadline.
Although initially directed at Global Systemically Important Banks (G-SIB), the committee believes that the principles can be applied to a wider range of banks in a way that reflects their size, nature and complexity. Adherence to these principles became mandatory for the affected banks on January 1, 2016. At their discretion, however, national regulators may apply the spirit of the principles to a wider range of institutions. Notwithstanding any compliance requirements, all financial services companies should consider implementing these principles as they represent best practices in the area of risk aggregation and reporting.
This webinar will discuss the best practices for BCBS 239 compliance, effective risk data aggregation and risk reporting.
Understand the background and introduction of BCBS 239
Overarching governance and infrastructure
Risk data aggregation capabilities
Risk reporting practices
Supervisory review, tools and cooperation
Implementation timeline and transitional arrangements
Long term implications
Steps to ensure risk data aggregation capabilities and risk reporting practices are subject to strong governance
How to enhance the infrastructure for reporting key information, particularly that used by the board and senior management to identify, monitor and manage risks
Improve decision-making process & MI timeliness
How to enhance the management of information across legal entities, while facilitating a comprehensive assessment of risk exposures at the global consolidated level
How to reduce the probability and severity of losses resulting from risk-management weaknesses
Understand how to Improve the speed at which information is available and hence decisions can be made; and
How to improve the organization's quality of strategic planning and the ability to manage the risk of new products and services