All banks in the Caribbean and Americas region are soon expected to report to their supervision regulators (central banks) based on the internationally agreed Basel II standard.

Basel II reporting is a global standard to which all banks in the region will have to adhere within the next 18 months. This standard is designed to mitigate banking risks more effectively. Although this transition process is highly important and necessary, putting it in place is a gigantic project for any bank and must be done carefully. A typical transition to Basel II reporting standards takes a bank over a year and involves extensive system changes and training of multiple departments of the bank.

Basel II The Stages to Success

We reccommend a four-stage approach to planning your compliance with Basel II.

The Basel II Report Card Service
This first stage on the road to readiness will evaluate your bank on three critical areas required by Basel II which are the readiness of your people, procedures and systems.

The Basel II Strategic Advisory Service
Once you have received your Basel Readiness Score (BQ) your management team will have sufficient advice to begin considering which strategy will reap the greatest reward for the bank. Expert advice on your options can save your board valuable time and money.

The Basel II Project Management Service
Defining and managing complex changes in systems, training and procedures to make your bank ready for Basel II compliance is a highly specialized and resource intensive process. Typically your bank will not have the in-house Basel II knowledge to ensure that you do not waste money on trial and error planning. Our project management service will help you plan an on-time and on-budget fully compliant project.

Basel II Implementation
With all the research and highly complex planning done your bank will still need to roll up its sleeves and prepare for a lengthy process of implementation and testing.

Frequently key executives cannot be pulled away from existing daily operations and special projects in order to do the full-time work of implementing Basel II. The Basel II Implementation service will relieve your team of the day to day burden of this complex task.