Challenge
According to The Basel Committee on Banking Supervision (BCBS), banks must consistently demonstrate the maturity to carry out risk information management functions. BCBS 239 norms on risk data aggregation and reporting require rigorous data control mechanisms to ensure high-quality data across multiple dimensions. However, lack of transparency and reliability limit the ability of banks to understand the business impact of any changes to the data ecosystem.

TCS solution
TCS’ Integrated Information Controls Framework, in accordance with the BCBS 239, helps financial firms effectively implement, manage, and measure data controls that have been applied on risk data stores.

We ensure optimal data quality management through benchmarking, monitor data exceptions and reconciliation issues, and provide reports based on key performance indicators of data controls.

By facilitating comprehensive view of data quality and controls across a bank’s data landscape, we better understand the weaknesses and strengths of organizational data risks. This in turn allows us to view, analyze, and use data points consistently, irrespective of the underlying application.

Our framework’s dedicated modules help banks institute comprehensive data quality and governance for effective risk management.

Benefits

• Comprehensive regulatory compliance
• Prudent risk management
• Better change management
• Streamlined data governance