Tag Archives: regulatory

Infographic: BCBS 239 Checklist

Released in 2013, the principles covered in BCBS 239 are the global de-facto benchmark for risk data governance, aggregation, and reporting. Organizations gain a clear advantage when they adapt rapidly to new regulatory requirements like these. Continue reading Infographic: BCBS 239 Checklist

MRA Digital Responses for Financial Services Companies

Receiving an MRA (Matter Requiring Attention) from a regulator is the start of a series of painful headaches for any bank. Unfortunately, they are more common than ever, as governments and agencies of all sizes are “getting in on the act” of regulating financial institutions. What’s more, today’s failures carry harsher penalties with the increased use of punitive fines to drive compliance. Continue reading MRA Digital Responses for Financial Services Companies

Knowledgent Releases Digital Regulatory Monitor Free Trial for Financial Services Companies

Knowledgent, the data and analytics firm, proudly announces the release of their Digital Regulatory Monitor (DRM) solution and a free 24 hour trial available at digitalregulatorymonitor.knowledgent.com. DRM is the next-generation solution in enterprise-wide regulatory compliance management for financial services. Continue reading Knowledgent Releases Digital Regulatory Monitor Free Trial for Financial Services Companies

The 14 Principles of BCBS 239

One of the key lessons learned from the financial crisis of 2008 was that banks’ information technology (IT) and data architectures were truly inadequate to support the broad management of financial risks. Many banks lacked the ability to aggregate risk exposures and identify concentrations quickly and accurately at the bank group level, across lines of business and between legal entities. Several were unable to manage their risks properly because of weak risk data aggregation capabilities and risk reporting practices. In the end, it led to severe consequences for the banks and, unfortunately, the global financial system as a whole Continue reading The 14 Principles of BCBS 239

New Blog Series: How Compliance is Costing Financial Services Organizations

The Financial Services industry has faced significant operational and business performance challenges over the past 10 years, especially since the near-collapse of the global financial system in 2008. That event led not only to the government-mandated sale of Bear Stearns and the outright bankruptcy of Lehman Brothers, but also to an unprecedented wave of rigorous regulatory mandates.  While they may be well-founded, the mandates have come with soaring costs and have been the most significant contributing factor to Return on Equity (ROE) ratios, which now stand at 50% of their historical levels. Continue reading New Blog Series: How Compliance is Costing Financial Services Organizations