Achieving BCBS 239 Compliance

Sia Partners supported a tier 1 European bank to achieve compliance with BCBS 239 principles.

Challenge

Sia Partners UK was asked to support the implementation of the BCBS 239 principles. The work focussed on five key challenges the bank faced in their programme:

  1. Implementing a control and governance framework
  2. Ensuring compliance of the general data architecture and governance with the BCBS 239 principles
  3. Supporting the implementation of an automatic metadata tool
  4. Implementing best practise to improve confidence in timely delivery
  5. Conducting an assessment of end-user computing tools

Approach

Sia Partners UK leveraged its extensive expertise in data management to perform an initial gap assessment at the client in an accelerated timeframe. Recognising the complexity of the client system architecture, Sia Partners UK worked with key stakeholders to define a data dictionary and target system architecture that was not only compliant with BCBS 239 requirements but also met the longer term requirements for a growing and complex organisation. As part of the implementation Sia Partners UK also focussed on ensuring appropriate governance and organisational buy-in would be achieved. This was done through setting up a dedicated knowledge transfer function that designed, organised and ran workshops and training sessions as well as using other knowledge transfer channels to communicate not only the requirements but also the benefits that this would bring to staff, achieving higher uptake and staff empowerment.

Results

As a result of Sia Partners UK’s work and deep knowledge of BSBC 239, the bank was able to meet its BCBS 239 requirements in full and on time. In particular, Sia Partners UK helped the bank to;

  • Deliver the required data dictionary
  • Setup a data lineage tool to analyse dataflows through the ledger
  • Align 150 critical data items within the General Ledger with the golden source
  • Define its target IT architecture, processes and governance incorporating best practises for data governance and quality
  • Deliver an EUC functional transformation roadmap
  • Up-skill its staff through a dedicated knowledge transfer function
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Get in touch

To find out more about how Sia Partners UK can support your business transformation programmes and help you build your internal capability, please get in touch. We would love to hear from you.

We can be contacted on +44 20 7933 9333 or ukcontact@sia-partners.com.

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