BCBS 239
2 of the 14 clauses of BCBS 239 are cited by this register, on Account and nostro reconciliation, Analytics and reporting pipeline, Board and committee pack, Data quality check, Prudential regulatory return, Treasury position and liquidity report, Warehouse load and marts. Every one below is quoted from the copy we hold, with the hours it states where it states any.
A bank should be able to generate aggregate and up-to-date risk data in a timely manner while also meeting the principles relating to accuracy and integrity, completeness and adaptability. The precise timing depends on the nature and potential volatility of the risk, including timely production under stress/crisis conditions.
What an assessor asks to see: Defined timeliness requirements per risk type for normal and stress/crisis conditions; Evidence of meeting reporting deadlines (production logs, SLAs); Capability to accelerate aggregation under stress/crisis (tested); Time-to-produce metrics for key risk reports. Where it usually falls short: No defined timeliness requirements differentiating normal vs stress conditions
Risk management reports should accurately and precisely convey aggregated risk data and reflect risk in an exact manner. Reports should be reconciled and validated.
What an assessor asks to see: Reconciliation and validation procedures for risk reports prior to distribution; Defined accuracy requirements and validation sign-offs for reports; Documentation of report data sources and calculation methods; Error log and correction process for risk reports. Where it usually falls short: Reports distributed without validation or reconciliation
Requirement text quoted from the standards themselves, published at compliance.theartofservice.com, the same publisher as this register, read against the held text of each standard: our statement of each clause, not the instrument verbatim. The whole standard on compliance.theartofservice.com.