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To enhance data capabilities as needed, banks should develop scenarios covering all material risk areas and define scenario-specific data-aggregation and reporting requirements. This has, in turn, put a great deal of stress on the financial services industry, with vast sums of money and intellectual capital being spent struggling to keep up. So, first things first: be sure to talk to your banking supervisor and make sure you got your dates and designation straight.

In short, they are focusing on uncovering what could drive the most value for the investment. At the top of the list of regulatory-related challenges are the increasing scrutiny that banks expect in the near future and the rising levels of investment needed in. We will discuss these estimates in greater detail later in the paper, but it is important to note that these projections depend significantly on starting position and on the scope and aggressiveness of the data transformation.

Four themes running through the BCBS 239 principles - This Pillar also requires organisations to put in place the right kind of technology and process infrastructure,not only for risk aggregation requirements, but also to offer an extensible framework that will allow easy incorporation of newer forms of risk and sudden spikes in computation capabilities in stress or crisis scenarios.

Yet with the right BCBS 239 strategy, they could realize even bigger annual savings. Stringent banking regulation has become even more the norm for the financial-services sector across the globe. Principles for effective risk data aggregation and risk reporting, Basel Committee for Banking Supervision Publication 239, Bank for International Settlements, January 2013, bis. Many received their designation during 2014. The regulation was, however, designed at a high level, using a principles-based approach that allowed banks to interpret and build tailored remediation approaches. While this can be perceived as a burden, it can also be seen as a great benefit. Aligning with the 11 principles BCS a lengthy and complex process. It requires interweaving risk data aggregation capabilities with supervisory risk-reporting practices running on a sound technical infrastructure. It also needs support from the right level of governance to ensure that information flows in the right ways, along with sustained commitment by the BBCS />These changes will further strain bank management, requiring additional large investments and additional enhancements to the data 293 />First, there is massive regulatory risk and a reputational risk if a bank fails to comply. Second, the bank might incur excessive but not fully productive investment and put strains on management capacity. Risk and finance data and technology should become—and already have become in many institutions—key strategic board-level topics. Many regard this process as a long-term cultural transformation that will change how banks look at and work with their data and technology to generate risk and opportunity insights.