Nolan Kam on LinkedIn: #datamanagement #dataquality #datacatalog #datagovernance #bcbs239 (2024)

Join us for the breakfast roundtable on Friday, 25th October!Reserve your spot today and be part of the conversation. Please don’t hesitate to reach out to us. Whether you’re looking for details on the agenda, how to register, or anything else, we’re here to help!📩 Jiunn Hao Choo Sidharth Sharma Murali Krishnamurthy Cindy Lee Susanto#DataGovernance #DataManagement #RiskManagement #DataCatalog #RoundtableDiscussion #Networking

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𝐉𝐮𝐬𝐭 𝐢𝐧 𝐓𝐢𝐦𝐞 "𝐁𝐈𝐒 - 𝐏𝐫𝐨𝐠𝐫𝐞𝐬𝐬 𝐢𝐧 𝐀𝐝𝐨𝐩𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐏𝐫𝐢𝐧𝐜𝐢𝐩𝐥𝐞𝐬 𝐟𝐨𝐫 𝐄𝐟𝐟𝐞𝐜𝐭𝐢𝐯𝐞 𝐑𝐢𝐬𝐤 𝐃𝐚𝐭𝐚 𝐀𝐠𝐠𝐫𝐞𝐠𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐑𝐢𝐬𝐤 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠"Read more here: https://lnkd.in/dadGAe8WThe Basel Committee on Banking Supervision published a progress #report on banks' implementation of the BCBS 239 Principles for effective risk data aggregation and reporting. Nearly ten years after the initial publication of the BCBS 239 principles and seven years after the expected date of compliance, banks are at different stages in terms of aligning with the #Principles. Of the 31 G-SIBs banks assessed, only two banks are fully compliant with all the Principles. Also, there is not a single Principle that has been fully implemented across all #banks.Authors: Matteo Cecchin and Pierpaolo Carrozzino#BCBS239 #RiskDataAggregation #RiskReporting #DataGovernance #DataQuality

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🌟 Exclusive Member Access 🌟On 6 June 2024, the European Banking Authority (EBA) launched a consultation on operational risk loss data collection, including a new draft risk event taxonomy. Learn about what ORX is doing in response to help our members with the changes. 📖 Members can read our newest blog here: https://shorturl.at/x0ECX#ORX #EBA #OperationalRisk #RiskManagement #IndustryNews

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Regulatory alert to Banking Risk Officers,On 11thJanuary 2024, the European Banking Authority (EBA) finalized the 𝗜𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁𝗶𝗻𝗴 𝗧𝗲𝗰𝗵𝗻𝗶𝗰𝗮𝗹 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝘀 (𝗜𝗧𝗦)expanding thePillar I market risk reporting requirementsunder the 𝗙𝘂𝗻𝗱𝗮𝗺𝗲𝗻𝘁𝗮𝗹 𝗥𝗲𝘃𝗶𝗲𝘄 𝗼𝗳 𝘁𝗵𝗲 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗕𝗼𝗼𝗸 (𝗙𝗥𝗧𝗕) 𝗳𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸. The ITS introduces novel templates aimed at capturing detailed information pertinent to the alternative standardized approach (ASA) and alternative internal model approach (AIMA).👉𝗦𝘄𝗶𝗽𝗲 𝘁𝗼 𝘀𝗻𝗮𝗽 𝘁𝗵𝗲 𝗸𝗲𝘆 𝗰𝗼𝗺𝗽𝗼𝗻𝗲𝗻𝘁𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗿𝗲𝗰𝗲𝗻𝘁 𝘂𝗽𝗱𝗮𝘁𝗲𝘀,👉 𝗥𝗲𝗮𝗱 𝘁𝗵𝗲 𝗮𝗿𝘁𝗶𝗰𝗹𝗲 𝗶𝗻 𝗳𝘂𝗹𝗹 to analyze their potential implication on your financial institutions. https://lnkd.in/e6FAF-g7Naturally, Finalyse follows the regulatory developments and has updated its 𝗙𝗥𝗧𝗕 𝗰𝗮𝗹𝗰𝘂𝗹𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝘁𝗼𝗼𝗹. 🟢 Book your Demo Session with François-Xavier Duqué.#BankingRegulation#MarketRisk#TradingBook#FRTB

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𝐉𝐮𝐬𝐭 𝐢𝐧 𝐓𝐢𝐦𝐞 "𝐁𝐈𝐒 - 𝐏𝐫𝐨𝐠𝐫𝐞𝐬𝐬 𝐢𝐧 𝐀𝐝𝐨𝐩𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐏𝐫𝐢𝐧𝐜𝐢𝐩𝐥𝐞𝐬 𝐟𝐨𝐫 𝐄𝐟𝐟𝐞𝐜𝐭𝐢𝐯𝐞 𝐑𝐢𝐬𝐤 𝐃𝐚𝐭𝐚 𝐀𝐠𝐠𝐫𝐞𝐠𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐑𝐢𝐬𝐤 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠"The Basel Committee on#BankingSupervisionpublished a progress report on banks' implementation of the BCBS 239 Principles for effective risk data aggregation and reporting.Nearly ten years after the initial publication of the#BCBS239 principles and seven years after the expected date of compliance, banks are at different stages in terms of aligning with the Principles.The global pandemic and recent#stresseventsprovided a stark reminder that banks’ ability to manage risk-related data is essential for sound decision making. Of the 31 G-SIBs banks assessed, only two banks are fully compliant with all the Principles. Also, there is not a single Principle that has been fully implemented across all banks.Authors:Matteo CecchinandPierpaolo Carrozzino#BaselCommittee#Banks#Risks#Data#Finance#RiskDataAggregation#RiskReporting

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𝐉𝐮𝐬𝐭 𝐢𝐧 𝐓𝐢𝐦𝐞 "𝐁𝐈𝐒 - 𝐏𝐫𝐨𝐠𝐫𝐞𝐬𝐬 𝐢𝐧 𝐀𝐝𝐨𝐩𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐏𝐫𝐢𝐧𝐜𝐢𝐩𝐥𝐞𝐬 𝐟𝐨𝐫 𝐄𝐟𝐟𝐞𝐜𝐭𝐢𝐯𝐞 𝐑𝐢𝐬𝐤 𝐃𝐚𝐭𝐚 𝐀𝐠𝐠𝐫𝐞𝐠𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐑𝐢𝐬𝐤 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠"The Basel Committee on#BankingSupervisionpublished a progress report on banks' implementation of the BCBS 239 Principles for effective risk data aggregation and reporting.Nearly ten years after the initial publication of the#BCBS239 principles and seven years after the expected date of compliance, banks are at different stages in terms of aligning with the Principles.The global pandemic and recent#stresseventsprovided a stark reminder that banks’ ability to manage risk-related data is essential for sound decision making. Of the 31 G-SIBs banks assessed, only two banks are fully compliant with all the Principles. Also, there is not a single Principle that has been fully implemented across all banks.Authors:Matteo CecchinandPierpaolo Carrozzino#BaselCommittee#Banks#Risks#Data#Finance#RiskDataAggregation#RiskReporting

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The European Banking Authority (EBA) has released version 3.5 of its reporting framework, which includes significant updates aimed at improving compliance with the Digital Operational Resilience Act (DORA), Fundamental Review of the Trading Book (FRTB), and introducing diversity benchmarking guidelines.Specifically, on DORA EBA has introduced cross-sectoral technical standards for reporting information on ICT services. This includes:•Validation Rules: Ensuring the accuracy and consistency of data submitted under DORA.•Data Point Model (DPM): A structured framework defining data requirements and relationships.•XBRL Taxonomies: Standardized digital reporting formats for streamlined data submission and processing.The updated framework ensures that financial institutions comply with the latest regulatory requirements, especially those under DORA, which focuses on maintaining operational resilience in the face of digital threats. GTG Link here: https://lnkd.in/eyubUx8c#EBA #ReportingFramework #DORA #FRTB #DiversityBenchmarking #XBRL #DataPointModel #RegTech #FinancialCompliance #DigitalResilience #BankingRegulations #FinancialReporting #ICTServices #RegulatoryUpdates #FinTech

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🌍🏦 Exciting News from the EBA!The European Banking Authority (EBA) has just unveiled its European Supervisory Examination Programme for 2025 (https://lnkd.in/erzmSCFd), highlighting three pivotal areas of focus that are set to shape the future of banking in Europe. 📈🏦🔹Key Topic 1: Testing and Adjusting to Increasing Economic and Financial Uncertainties- In today's ever-evolving economic landscape, it's crucial for banks to remain resilient and adaptable. Strong governance frameworks are essential to navigate these uncertainties effectively.🔹Key Topic 2: Digital Challenges- As digital transformation accelerates, governance in IT and cybersecurity will play a critical role in ensuring that digital advancements are secure and compliant with regulatory standards. 🌐💻🔹Key Topic 3: Transitioning towards Basel III and the EU Banking Package Implementation- This transition demands robust governance to manage the complexities of new regulatory requirements and ensure a smooth implementation process. 📊📝Also published today is the report on the results of the ESEP 2023 (https://lnkd.in/e-A4aGR6). #Banking #EBA #Governance #DigitalTransformation #EconomicResilience #BaselIII #EURegulations #FinancialServicesFeel free to share your insights and join the conversation! 🗨️👥

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As per a recent Bank of England Financial Stability Operational Resilience paper, notable operational incidents have occurred recently. These include a worldwide IT outage in July 2024 due to a flawed update by CrowdStrike, a Swift outage in the same month affecting wholesale payments in the UK and other countries, and cyber-attacks on ICBC Financial Services and ION in November 2023 and February 2023 respectively. Link to the paper in comments below 👇📜The paper highlights three main sources of operational incidents:- Internal Disruption- Third-party disruption- External shocksTo delve deeper into operational resilience and preparedness, join a brief Teams session with our expert, Shane Wallace, who brings thirty years of recovery experience. Shane specialises in advising organisations on documenting, preparing, and testing their recovery capabilities.#OperationalResilience #FinancialStability #RecoveryCapabilities

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