The Importance of Data and ERM
BCBS 239 Data Principles, Risk Reporting, and Enterprise Risk Management
About This Course
Course Information
Data is the lifeblood of many large financial organisations, and aggregating and reporting risk data have become increasingly important. The course introduces enterprise risk management (ERM), a common and important method for assessing and managing risk in an organisational context, and discusses its future trends.
Certificate on Completion
This course is made up of videos, questions and additional reading materials, and accounts for 3 units of CPD. One unit is the equivalent of one hour of learning.
Course Sections
This course is made up of the following sections:
- Principles for effective data aggregation and risk reporting (video)
- Effective data aggregation (quiz)
- Enterprise risk management (video)
- Enterprise risk management (quiz)
- ERM analysis tools (video)
- ERM analysis tools (quiz)
What You Will Learn
- Describe the 14 BCBS 239 principles for risk data aggregation and reporting, including governance, accuracy, completeness, and timeliness
- Explain the five components of an enterprise risk management program: targets, structure, metrics, risk strategy, and culture
- Identify the four primary data model types used in risk infrastructure: semantic, conceptual, logical, and physical
- Distinguish between sensitivity analysis, stress testing, and scenario analysis as ERM tools
- Assess why banks have struggled with BCBS 239 compliance since its 2013 publication and the IT integration challenges involved
- Explain how ERM adds value through risk diversification, concentration analysis, and self-insurance compared to siloed risk management
Who This Course Is For
- Risk analysts and compliance officers involved in data governance or regulatory reporting at financial institutions
- Finance professionals preparing for or maintaining FRM certification
- Internal auditors who need to understand BCBS 239 principles and ERM frameworks
Prerequisites
- Basic understanding of financial risk categories (market risk, credit risk, operational risk)
- No prior knowledge of BCBS 239 or ERM frameworks is required
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