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John Sunil Soren

Lead – OFSAA CoE, Banking and Financial Services, TCS

Risk Data Aggregation: Ensuring Effective and Timely Reporting at Banks

BCBS 239 compliance can be a strategic risk framework enabler for banks

Recent financial crises have heightened the need for banks to get a unified view of all risk exposures. The BCBS 239 or the Risk Data Aggregation guidelines espouse 14 principles for banks to strengthen risk management, governance, data aggregation and supervisory review. Banks would do well to overhaul their IT infrastructure and adopt this regulation to fortify their strategic risk framework.