There is a lot happening in this graph. BCBS 239 principals say you need to be on top of it.
The principles driving BCBS 239 cover a lot of ground, but they can be enabled with two foundational assets any bank has been managing for years: the customer lists and reference data. But, the gap is the ability to tie the two together. Previously, there was no compelling reason to benchmark how accurate a risk profile these assets provided. That has changed with the introduction of the Basel Committee and the Financial Stability Board who asses how all systemically important financial institutions (SIFI) measure up to their principles. In the coming years, this will also fall to those below the SIFI label as the Fed applies similar principles to smaller institutions or the merge or two institutions that cross the $50 billion mark. Enterprise Customer List – The forgone conclusion. They are often called Customer Master, Party Master or a Customer Information File. They all serve the same purpose, having a complete list of whose money the bank has and who has the bank’s money. But, how often are they the same legal entity? How often are they even an individual? They could be an account, a risk grade, and a receivable… even a prospect.