A comprehensive action plan was drawn up by a bank with national systemic relevance, in order to meet the requirements of BCBS 239. One of the measures we were commissioned to implement related to data quality assurance along the processes for the preparation of central risk management reports. In the course of their development, these cover a large number of organizational bank units.
BCBS 239 particularly focuses on the central risk management reports. Within the scope of workshops, we selected the bank's management-relevant risk indicators from all the key figures together with the specialist departments. In the next step, we carried out a stocktaking for the defined scope - in each case over the entire process, from the creation of data to the key risk indicators in the reporting. From this, we derived the required target images with regard to the required data quality controls via generic rules. It was particularly important to us that the stakeholders affected by the cross-divisional process initiations and changes from the various departments were also actively involved.
The full process survey and the closure of identified gaps in the data quality controls lead to a systematic monitoring of the data quality. The resulting network of data quality checks creates the foundation for the data quality statements in the relevant risk management reports which are required by the supervisory authority. The documentation of the processes also creates transparency as well as a targeted evaluation of the bank's own processes, and enables the integration of the project results into process maps and work instructions of the bank.
"In Addition to contributing to the assurance of BCBS 239 compliance, our approach to implementing the BCBS 239 measure primarily leads to transparency in the processes of Overall bank Management and directly usable process models for work instructions and the process map."
Simone Seeger, Matthias Bichweiler
Senior Consultants at targens