Creating a Golden Data Repository for centralized finance and regulatory reporting for a European Investment Bank
Client: Large European Investment Bank
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Objective
To replace a large European Investment Bank's fragmented legacy system with a unified, integrated "Golden Data Repository" for centralized finance and regulatory reporting.
CRISIL's Solution
CRISIL applied the big-data approach to create a unified platform catering to the needs of various groups within CFO organization, and covering all financial and regulatory reporting functions, including System Design, Data Modelling, Data Enrichment, Validations, Adjustments, Data Sourcing and Reporting and Support Development in agile environment
Because creating a single platform for multiple groups leads to complex data modelling and design challenges, CRISIL began by assembling a team with a diverse mix of talents and conducting extensive current-state analysis and documentation. The team then followed a disciplined process:
Solutioning & Documenting the Requirement
Gap and impact analysis
BRDs & solutioning
PoC's
Development Support, Testing & Validation
Mock-ups & User Stories
Test cases & scenarios
Functional testing
Dry Run, Parallel Run & Go Live
Dry, Parallel run and Go-live support & User education
Variance analysis and presentation to business
Project Management, Governance & Control
Support to OpCo, working group, design forum etc.
RAID logs, standardisation of sprint planning and reporting
The CRISIL team produced 200+ reports for group disclosure, provided support across functions within finance the change team, and generated comprehensive documentation of the end-to-end business process etc.
CRISIL team that helped build the new unified and integrated system performs the following functions:
Data Modelling
Physical data modelling and logical data modelling in big data platform to cater to the multiple reporting group within CFO Organization
Sourcing & Reporting
Front-to-back data flow of the existing vs. proposed structure, identifying required attributes, documentation of reporting logic, analysis & validations
Common Services
Data quality rules, exception management, Reconciliation of source vs platform, business rules for data enrichment, adjustment & close management
Client Impact
Reduced risks, including the elimination of key man risk;
Improved controls;
Easing of regulatory compliance burdens;
Time and cost savings from significant efficiency gains
Request for services
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