NRI Offers Japanese Banks Data Management Framework for BCBS 239 Compliance
NRI is partnering with EDM Council to help Japanese firms meet the risk data aggregation requirements of the Basel Committee's guidelines.
NRI will offer EDM Council's Data Management Capability Assessment Model (DCAM) to Japanese firms. DCAM focuses on the more stringent data management requirements of BCBS 239. Currently, NRI is the only authorized partner of the EDM Council.
"To attain the data management capabilities demanded by BCBS 239, firms must establish responsibility and accountability for data ownership across the entire organization," said Harumi Saito, managing director at NRI, in a statement. "DCAM was designed by the EDM Council's data management professionals to address the operational challenges that arise during regulatory implementation. This data management framework will help streamline operations at Japanese institutions as they pursue BCBS 239 compliance."
BCBS 239, titled Principles for effective risk data aggregation and risk reporting, was published in January 2013. All global systematically important banks (G-Sibs) are required to comply with the 14 principles by January 2016.
To read more about BCBS 239 and the challenges banks are facing in complying with it, read the Waters June feature on it here.
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