Basel

The Basel Framework is a global set of banking regulatory standards designed by the Basel Committee on Banking Supervision (BCBS). SOX Group provides Basel technical writing services to document risk data aggregation and internal risk reporting practices.

In particular, BCBS 239 (Principles for Effective Risk Data Aggregation and Risk Reporting) requires organiztions to maintain strict IT and data documentation. Key documentation mandates include end-to-end data lineage for Critical Data Elements (CDEs), formalized data dictionaries, and comprehensive records of data governance policies, transformation rules, and validation controls With our expert guidance, your organization will be prepared for Basel audits, mitigating risks and ensuring a secure financial environment for both customers and the institution itself.

Basel IT and Data Documentation Requirements

  • System of Record (SoR): Where each piece of data is generated.
  • Data Flow Diagrams: Visual and textual documentation of how data moves, is stored, and is extracted.
  • Transformation Logs: Data alteration, aggregation, or manual adjustment steps.
  • Data Dictionaries: Critical Data Elements (CDEs), including definitions, formats, and metrics.
  • Metadata Management: Metadata standards for consistent naming conventions.
  • Architecture Diagrams: IT architecture schematics of database and application integration.
  • Ownership Matrix: Data ownership at the domain and enterprise levels.
  • Data Stewardship: Stewardship responsibilities, including who manages data quality, access controls, and security.
  • Policy Documents: Policies guiding data quality thresholds, metadata definitions, and archiving standards.
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