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BCBS #239: the transformation towards the compliance

Based on Deloitte’s EMEA Survey September 2017

The main dilemma that banks faced during the mobilisation and planning phase of their bespoke BCBS #239 compliance programs was the one over different approaches, “Fix” or “Build”. Banks had to choose between a "soft" program of adaptation of existing infrastructures and processes to be compliant with regulatory requirements, or more cumbersome programs with a strong innovative connotation based on several organizational, infrastructural and technological interventions.

Evolution of compliance: main challenges

The wide range of activities foreseen, and the tight timeframe available for implementing the principles of the regulations, encouraged the banks to follow mainly a tactical approach, in order to maximise the results achievable in the existing timeframe. This was mostly due to the fact that a path to full compliance considering an integrated strategic and technological approach would require a longer time horizon to implement.

BCBS #239: the transformation towards the compliance

In the report

In order to meet the Regulator’s requests, it’s vital to develop a plan that takes into account the entire risk reporting value chain; this means considering risk data as an asset that has to be accurate, clear, complete and easily available. Download the report to read more about the following:

  • Evolution of compliance: lessons learnt
  • How the Banking Sector is approaching BCBS #239
  • Links with the new regulatory requirements
  • The last mile towards compliance

More information?

For more information on Compliance please contact Harmen Meijnen via hmeijnen@deloitte.nl / +31882884258 or Geert Waardenburg via gewaardenburg@deloitte.nl / +31882883246 

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