David Bresnick

At NYC’s Data Governance Financial Services Conference this week, presenters and attendees alike were buzzing about BCBS 239. As they should! While the internationally recognized Basel Committee on Banking Supervision (BCBS) published their guidelines on Principles for effective risk data aggregation and risk reporting back in January 2013, the three year head start to comply is looming! These principles really are a positive force in the industry, aimed at mitigating systemic risk across large banks, a factor contributing to the 2008 financial collapse. Both Global and Domestic Systemically Important Banks (G-SIBs & D-SIBs, respectively) are in the crosshairs and expected to follow suit by the time the ball drops in Times Square (Jan 2016).