To ensure the loss database provides a reliable foundation for financial calculations and audit reviews, organizations must align their data collection processes with the data quality dimensions outlined in the BCBS 239 guidelines:

Data Quality Dimension Applied Risk Operational Rule Implementation Compliance Check
Accuracy Loss figures must reconcile directly with entries in the general ledger. Automated monthly reconciliation scripts between risk logs and financial systems.
Completeness All operational loss incidents above the corporate logging threshold must be recorded. Cross-referencing operational incident forms with accounts payable journals.
Timeliness Events must be logged in the database within a set period following discovery. System alerts for any incident where the discovery-to-logging delay exceeds 5 business days.
Data Lineage Every modification to a loss entry must maintain a permanent audit trail. Write-once, read-many database configurations with automated user logging.
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