Risk & Compliance expertise in
BCBS 239||CPG 235||Basel I-IV||GDPR & CCPA
Our experts have expertise in risk management. We help our ﬁnancial services customers manage and leverage their data relating to their key risk exposures through practical BCBS239, minimise our customers’ cyber exposure, and protect their digital investments with our unique risk management frameworks and services.
Leverage our Expertise in Risk & Compliance
Risk & Compliance challenges
Data risk refers to the possibility of an organisation losing value or reputation as a result of problems or limits with their data assets across acquisition, storage, transformation, movement, and usage.
Numerous businesses have started to address data risk management issues by enhancing data management, using sophisticated analytics methods, and making use of cognitive technology. In addition, some companies are beginning to apply the same governance rules and ROI assessments to data assets as they do to technology. Despite this, problems persist. That’s where NovoFinity comes in.
Our data experts take the time to understand your specific risk & compliance challenges and provide remediation. We have a library of proven frameworks that help businesses solve their data challenges faster and more reliably that we can manage or provide for your in-house teams.
Principles for effective risk data aggregation and risk reporting
To comply with the BCBS 239 standard, financial services businesses all around the world are required to collect risk data that is full, timely, accurate and flexible
The Australian Prudential Regulation Authority guidance for Managing Data Risk
The purpose of CPG 235 is to assist senior executives, risk managers, and technical specialists inside regulated enterprises in Australia to controlling Data Risk
Regulations for banks to hold cash reserves to meet their financial obligations
Basel IV is a colloquial term for a series of regulations that collectively constitute a significant shift in how risk-weighted assets are calculated
GDPR & CCPA
Laws that require organisations to safeguard personal data & privacy rights
GDPR & CCPA
GDPR and CCPA are privacy regulations for different geographies that govern how user data can be collected, used, and managed, and are now having global impact
It’s a regulatory minefield when it comes to data management, and it’s only getting more stringent. We help businesses stay ahead of their risk & compliance challenges before they get ‘that call’ they most dread.
Risk & Compliance FAQs
All data is vulnerable to cyber attacks when hosted on connected infrastructure. This is even more true for cloud based data repositories. With NovoFinity, our Predictable Security solution, threats can be address proactively, before they manifest into real risks.
The California Consumer Privacy Act of 2018 (CCPA) gives consumers more control over the personal information that businesses collect about them and the CCPA regulations provide guidance on how to implement the law. This landmark law secures new privacy rights for California consumers, including:
- The right to know about the personal information a business collects about them and how it is used and shared;
- The right to delete personal information collected from them (with some exceptions);
- The right to opt-out of the sale of their personal information; and
- The right to non-discrimination for exercising their CCPA rights.
Businesses are required to give consumers certain notices explaining their privacy practices. The CCPA applies to many businesses, including data brokers.
The concepts brought out in BCBS 239 are continued in CPG 235. It is intended to assist regulated organisations in Australia in managing data risk. It is intended to serve as a guide for executives, as well as risk and technical experts.
We are experts in ‘all things data’ and as such, offer a broad range of services across the data life cycle. We help organisations create applications to engage their customers, automate business processes, as well as delivery of dashboards and reporting. NovoFinity have experts across core defined data management capabilities, such as strategy, governance, architecture, and data quality.
The BCBS 239 Accelerator is the fastest and most streamlined way for organisations to validate their data against vital international finance requirements. NovoFinity have developed frameworks that not only reduce the friction of adoption, but ensure best practice if maintained throughout the program of work.
The General Data Protection Regulation (GDPR) is a regulation in EU law on data protection and privacy in the European Union (EU) and the European Economic Area (EEA). It also addresses the transfer of personal data outside the EU and EEA areas. The GDPR’s primary aim is to enhance individuals’ control and rights over their personal data and to simplify the regulatory environment for international business. Superseding the Data Protection Directive 95/46/EC, the regulation contains provisions and requirements related to the processing of personal data of individuals (formally called data subjects in the GDPR) who are located in the EEA, and applies to any enterprise—regardless of its location and the data subjects’ citizenship or residence—that is processing the personal information of individuals inside the EEA.
Predictable Security is what NovoFinity leverages to provide the revolutionary security solution for our clients. Based on a patented, unique Artificial Intelligence, PS is able to learn from sequences that attackers naturally follow and can learn to predict actual threats before they occur based on key indicators and deep learning.