Regulatory Reporting support including implementation of strategic reporting tools for a Global Bank
Client: Global Bank
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Objective
To help a Global Bank increase efficiency of its regulatory reporting process by implementing strategic reporting tools and providing other ongoing support.
Challenges
Legacy gaps in requirement gathering, documentation, implementation and testing
Parallel aggressive timelines for implementation of regulations like Anacredit, FINREP and COREP reports
CRISIL's Solution
Deployed team of highly skilled Lead BA/SBAs with relevant regulatory reporting experience; mix of onshore and offshore talent
Established strong governance mechanism at each stage of project – initiation, production and operations; finalisation and tracking through Book of Work
Regular interaction with multiple stakeholder teams to drive the program
Ongoing performance and quality reviews by CRISIL SMEs/project managers with engagement from the client’s governance team
Consistent feedback from the client to gauge the quality and impact of completed work
Best Practices and Process Change
During UAT, a standard best practice approach document (Testing Approach Document) was prepared, ensuring that the best practices were followed while testing and that report/product is defect-free
Identification of gaps in change processes like need of BRDs, FRD, walkthrough forums
Creation of Issue tracker to improve output of testing process through client's tool
Creation of Validation Rules to improve quality of data in regulatory reports (e.g. Anacredit reports)
Rewriting of complex rules to reduce dependency on other templates (Basel dashboards)
Client Impact
Various business processes and analysis were improved and the following milestones were achieved in a short period:
COREP: Owned UAT and tested around 120 COREP reports (Internal and External reports) within a month;
Anacredit: Owned country-specific BRD and took formal sign-off from 13 country leads within 2-3 weeks;
FINREP: Reconciled Data in DWH and streamlined data gaps;
Basel: Developed Basel dashboard rules to remove dependency from existing COREP/FINREP templates.
CRISIL has been assisting client in strengthening BA deliverable quality by implementing SDLC best practices like creation of FSDs, Requirement Traceability matrix, etc.
Helped implement strategic report generation tool
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