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BCBS 239 Compliance

Principles for effective risk data aggregation and risk reporting

Basel Committee on Banking Supervision

BCBS 239 is the Basel Committee on Banking Supervision’s standard number 239 (BCBS 239). Originally developed as a response to the 2007-08 financial crisis, it aims to enhance risk management and decision-making at banks to improve financial stability worldwide.

The standard addresses the “too big to fail” interdependence of Global Systemically Important Banks (G-SIBs) and Domestic Systemically Important Banks (D-SIBs), encouraging their risk data aggregation capabilities and internal risk reporting practices.

Challenges to BCBS 239 Compliance

Key challenges and components of BCBS 239 require financial institutions to strengthen their ability to identify, manage, and monitor their high-risk data; establish actionable governance and data management practices; and reduce risk.

Gobernanza y Infrastructure

Banks need to establish strong governance, data architecture, and IT infrastructure arrangements.

Riesgo Data Aggregation

Banks must be able to create accurate and reliable risk data that is complete, up-to-date, and adaptable to changing needs and requests.

Riesgo Informes

Risk management reports must accurately reflect risk, be reconciled and validated, have a comprehensive scope, and communicate clearly.

How BigID Helps with BCBS Compliance 239

Identify All Your Critical Data

Discover and inventory all your critical, sensitive, personal, and high-risk data to identify and ensure complete and comprehensive risk data reporting.

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Reconcile M&A Data

Complete regulatory compliance risk data across all divisions of the enterprise — through every stage of mergers & acquisitions.

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Establish a Single Source of Truth

Reduce fragmentation across the data landscape, strengthening privacy, security, and governance programs.

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Supervisory Review

Supervisors must periodically review and evaluate the bank’s compliance, take action to remediate when necessary, and cooperate with supervisors in other jurisdictions.

BigID para BCBS 239 Compliance

Descubrimiento en profundidad

Discover all sensitive and regulated data that falls under BCBS 239, wherever it’s stored

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Classify High Risk Data

Take an ML-based approach to automatically classify and tag high risk data that falls under BCBS

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Aplicación de recuperación de datos

Remediate sensitive and regulated BCBS 239 data and manage high risk data with remediation workflows and audit trails.

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Data Retention App

Leverage out of the box and custom data retention rules to manage high risk data.

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