Understanding the process required to ensure compliance with BCBS 239 as well as tips on ensuring that the right data is utilized. Finally, a detailed step by step analysis of COSO requirements and what a business can do to meet expectations.
COSO continues to provide guidance and establish standards for performance in risk related processes. BCBS 239 is the latest in a series of instructions which focuses on risk data aggregation. This webinar will include discussions on the risk data aggregation capabilities and internal risk-reporting practices (the Principles) that enhance risk management and decision making processes at financial institutions.
WHY SHOULD YOU ATTEND
Early in 2015, the Basel Committee published the second progress report on bank’s adoption of BCBS 239. Several banks, at that time, stated that they would not be able to comply with the new standards by the 2016 deadline date. However, regulators are now looking at how institutions are prepared to comply with COSO standards in their examinations. Banks can expect review and commentary in this area from whichever regulator visits.
Adherence to the COSO principles was mandatory for affected banks by January 1, 2016. Affected banks are Globally Systemically Important Banks (G-SIB). Notwithstanding the designation of these banks, all financial service companies should consider implementing these principles as they represent best practices in the area of risk aggregation and reporting.
WHO WILL BENEFIT
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