BCBS 239: Bracing for change and capturing the opportunity
Regulators worldwide are requiring banks to put in more technological resources to enhance their ability to identify and manage bank-wide risks. The requirements come in the wake of the Global Financial Crisis, where banks were found to be lacking in their ability to understand quickly and accurately, their overall exposures.

In a bid to prevent a repeat of the crisis, the Basel Committee on Banking Supervision (BCBS) released a principles structured rulebook, “BCBS 239 – Principles for effective risk data aggregation and risk reporting (RDARR)” that outlines real and wide-ranging impacts for banks operating globally and in APAC.

Failure to comply with the principles could mean regulatory penalties, increased capital charges, heightened regulatory and reputational risks, as well as a loss of competitive advantage.

This paper outlines the principles and KPMG’s approach to triggering value in the compliance exercise through the use of a lifecycle framework. This approach enables stakeholders to customize RDARR requirements to their business needs and continuously adapt to changes in the business environment.
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