You're a senior manager in the risk management department of a large investment bank. Given the rapid growth in our derivatives business and our expansion into new markets, our current counterparty credit risk management framework is facing significant challenges. You've been tasked with designing and proposing a comprehensive, forward-looking framework that can effectively identify, measure, monitor, manage, and report these risks. Walk me through the core components of this framework, the key considerations you would take into account, and your proposed implementation strategy.