Basel II Compliance
The Basel II accords are recommendations on banking supervision. It is the second accord to come from the Basel Committee. Basel II attempts to protect international financial systems from the challenges that arise when a bank or series of banks collapse and fail. Specifically, the accord speaks to how much capital banks need to have to guard against financial and operational risks. The accord sets out to do this by setting up rigorous capital and risk management requirements, designed to ensure that a bank holds capital reserves appropriate to the risk the bank exposes itself to. The Basel II accord was originally enacted in June of 2004.
Best Practice approach to Basel II compliance
Trusted by several hundred customers worldwide, BWise delivers exemplary Governance, Risk Management and Compliance (GRC) solutions to European banking firms. BWise has successfully partnered with European banking firms to implement a risk-based solution for Basel. The accord notes that the greater the risk to which the bank is exposed, the greater the amount of capital the bank needs to hold to safeguard its solvency and overall economic stability. Based on its experience, BWise has developed a
best practice approach to comply with Basel II that enables banks to assess and analyze its risks, and build a framework with the appropriate measures to manage its risks on a day to day basis.
Meet all reporting requirements
With the best practice process based approach from BWise for Basel II compliance, banks can not only manage their risks, but they are also enabled to prove to regulators, credit agencies and accountants that risks are managed, and how those risks are managed. Reports and insights into those risks can be easily compiled and presented. The BWise solution can also be used to grant limited access to an enterprise’s external accountants or auditors, so that they too can monitor risks at anytime. In addition, a process-based approach to Basel II, has proven to be a very effective way to bring risk management to an operational level, and give management insights in how to optimize the required capital reserve.
