Practical Data Management for Risk Data Aggregation and BCBS 239 Compliance Second Edition

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According to Basel Committee on Banking, in the years leading up to the 2008 financial crisis, policymakers and investors lacked sufficient data and supervision to anticipate emerging threats to financial stability or assess how shocks to one financial firm could impact the system as a whole. In the aftermath of financial crisis, it is apparent to leading nations that financial stability requires increasing the intensity and effectiveness of supervision. To achieve that, various laws and regulations have been adopted to improve the supervision of financial institutions especially SIFIs. The most notably of those relating to data management is BCBS 239 (Risk Data Aggregation principles).

Risk Data Aggregation (RDA) principles call for strong data governance and data aggregation capabilities. This book provides detailed analysis of these principles and gives readers better understanding the requirements called fro by these high level principles.

This Second Edition of Practical Data Management for BCBS 239 added 5 chapters to the original edition. It provides a reference implementation of data management based on the requirements and designed detailed in the first edition. The new chapters in the second edition will have details as follows: Chapter 5 will start on data governance technology including role management, KPI and dashboard. Chapter 6 will discuss the metadata management including business glossary/terms, data dictionary, and data models. Chapter 7 will talk about the data flow and data lineage. Chapter 8 will cover data controls and data issue management. Chapter 9 will bring back the big picture and put everything together. Chapter 10 will look into economics involved in data management and discuss briefly on the role of automation.

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