South African banks must restore international trust http://wp.me/pSc3Y-1iW #NCA #BCBS239 #FinServ

The recent failure of African Bank and the subsequent Moody’s downgrading of all South African bank’s indicates a serious lack of trust in the compliance culture of our banking system. [Tweet this] Not a Systemic Issue Realistically, no other South African banks suffer from the systemic rot that seems to have been in play at African Bank over the last several years. According to a recent…

BCBS 239 - Risk Data Aggregation | Data Governance

BCBS 239 is a regulatory act designed by Basel Committee on Banking Supervision, to ensure that large banks will have the right data infrastructure, data controls, and data reporting capabilities on their risks and exposures.  know how to effectively comply with risk data aggregation, data validation, and reconciliation requirements for BCBS 239 and what is the core of BCBS 239.

Time for the board to take information governance seriously?

This year, the JSE-listed Tongaat-Hulett Group announced that it would need to restate its 2018 financial results pending a review of “past practices” that appear to have inflated profit by between R3.5 and R4.5-billion.

Image by Clker-Free-Vector-Images from Pixabay

This story has received remarkably little public attention, possibly because it pales somewhat by comparison to scandals such…

#BCBS239 - Will local banks be ready?

Domestic systemically important banks have less than a year to comply with the principles of Regulation 39 of the Regulations relating to Banks. (BCBS 239) The Principles aim to strengthen bank’s risk management practices by improving their risk data aggregation and reporting. At the time of writing, global systemically important banks should have already complied. A large portion of Basel III is…

Are banks behind the data management curve?

Late last year I attended a Data Management Review webinar discussing the impending BCBS 239 deadline, and the implications for banks in 2016.

One of the speakers observed that BCBS 239 is largely designed to bring banks in line with sound data management principles already practiced in other industries such as the pharmaceutical industry,

Drug companies must ensure that every scheduled drug that…