Basel III and Beyond

Basel III and Beyond

Risk and Governance (2nd edition)

Risk and Governance (2nd edition)

BCBS 239: Guiding Principles for Compliance


In 2013 the Basel Committee on Banking Supervision published “The Principles for Effective Risk-Data Aggregation and Risk Reporting”. These principles, which became BCBS 239, were designed to remedy the risk data aggregation and risk reporting failings exposed during the financial crisis, and to deliver greater clarity and quicker information. The ambition of the Committee was to empower banks and financial institutions to facilitate better decision making. It took effect from January 2016, introducing a set of 14 best-practice principles spread across four closely related topics: overarching governance and infrastructure, risk data aggregation capabilities, risk reporting practices, and supervisory review, tools and cooperation.

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Banks need to not only demonstrate the ability to perform effective and regular risk management, but also to conduct ad hoc risk assessments (e.g., of critical credit, market and liquidity positions and exposures during times of stress and crisis). For some organisations, achieving compliance will entail a fundamental review of their data structures, processes and systems.

BCBS 239 is problematic because it offers few clear metrics to measure compliance effectiveness. BCBS 239: Guiding Principles for Compliance gives the reader an overview of the regulation in addition to details on its principles, the data management issues raised, and its requirement for data that is accurate, complete, timely and appropriate. Editor Peter Haines has assembled a team of contributors who cover the governance requirements of the regulation and describe best practice for compliance.

Chapters cover:

  • Risk Data Aggregation
  • Risk Reporting
  • Data Governance
  • Data Architecture
  • Managing Data Quality
More Information
ISBN 9781782723264
Navision code MRED
Publication date 30 Nov 2017
Size 155mm x 235mm
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Peter Haines

Peter is an Independent Senior Programme Manager based in London leading the delivery of large complex regulatory compliance programmes for financial services clients. He is a frequent speaker on Risk Management and has given talks at Christ’s College Cambridge, numerous events across London as well as at Pace University in New York.

He worked at the Financial Services Authority both in the policy and risk divisions before joining Price Waterhouse Coopers where he consulted to Banks and Insurers on regulatory change. Within this role he led the implementation of risk frameworks and spent long periods in emerging markets rolling out a UK headquartered group's policy framework. 

More recently he was a Programme Manager in the Front Office within the RBS Corporate and Institutional Bank. In this role he led a large programme of work to develop an Enterprise Wide Risk Appetite Dashboard covering key metrics and thresholds for Senior Executive Decision Making. The precursor to this was the successful delivery of a Conduct Risk Appetite Reporting suite developed with subject matter expertise gained throughout his previous roles.

Peter studied risk management at University in an environmental and operational context looking at the identification and management of operational risk in industry, principally human error and disaster scenarios.

Foreword: Hany Choueiri (State Street)

  • 1. Introduction: Peter Haines
  • 2. Risk Data Aggregation and Risk Reporting: A Regulatory Perspective: Giancarlo Pellizzari and Paolo Poloni (ECB)
  • 3. Delivering Compliance: Challenges and Opportunities: Gerald Redinger (Raiffeisenbank)
  • 4. Data Governance: Embedding a Governance Process: Naomi Clarke (Independent Consultant)
  • 5. Data Architecture and Aggregation: Jerry Goddard (Santander)
  • 6. Managing Data Quality: Completeness, Accuracy and Timeliness: Craig Taylor (Independent Consultant)
  • 7. The Risk Reporting Use Case: Usefulness, Adaptability, Validation: Peter Haines
  • 8. What is the problem with risk data and how can executive data governance address it? Kathryn Kerle (RBS)
  • 9. Action Plan: Karthik Rajaraman (Standard Chartered Bank)
  • 10. A UK Regulatory Perspective: Carl Taylor (Bank of England)
  • 11. BCBS 239 at Commerzbank: applying principle-based compliance for a diverse bank: Joachim Pfeifer (Commerzbank) and Natalia Kluger (PwC)