BIS identifies key challenges in BCBS 239 implementation
The Bank for International Settlements (BIS) has summarized key themes and challenges in banks' implementation of the BCBS 239 Principles for risk data aggregation and reporting. The update draws on recent supervisory and industry outreach sessions.
Adapting to a dynamic landscape
BCBS 239 implementation continuously adapts to evolving business, technology, and risk landscapes.
Banks face ongoing challenges in adjusting data aggregation and reporting practices to new products and technological advancements, requiring sustained effort.
Strengthening data governance and lineage
Bank boards oversee risk data aggregation (RDA) activities.
A strong data-driven culture and active senior management involvement are crucial for overcoming implementation barriers.
Data lineage, tracing data from origin to use, remains a key challenge.