The gap & assessment phase aims to assist entities in assessing their degree of conformance to the BCBS 239 principles, highlight the key findings, and develop an implementation roadmap to guide the firms to a compliant reporting & data management framework.
In the Discovery phase, we propose to review the existing data architecture, supporting policies and the efficacy of IT infrastructure. Data collation for the prevalent activities is based on process walk-throughs and questionnaires.
The collated data is reviewed and the practices are compared against the prescribed BCBS239 requirements. Based on the findings, a gap report is to be prepared, which is substantiated by details of data transformations, data solution architecture and reporting requirements.
In the last phase, we will develop an implementation roadmap to elaborate the approach for establishing data governance requirements and the hardware, software project maps.