BCBS239 was the start of closer regulatory attention to the data management processes in risk data management and was followed by other initiatives such as the ECB’s TRIM programme.
BCBS239 consists of 14 principles for risk data aggregation and put rigor and structure in banks’ data management. Firms and regulators alike have realized that you cannot separate the models from the data quality and that an integrated approach to data management and analytics is needed.
Alveo provides market and reference data management solutions for the cleansing, enrichment, aggregation, and distribution of complete data sets for risk calculations to meet BCBS 239 requirements.
It includes complete data lineage so firms can easily track data back to its sources and monitor data flows. Its flexible yet rigorous data quality management and source onboarding help to lower the cost of change while meeting regulatory requirements.