Data Management Framework Implementation
The need for an efficient and centralized Enterprise Data Management Framework has been one of the main focuses of financial institutions in the past years.
Starting from the 2013 BCBS 239 principles and the increasing demands from the Regulatory Authorities in terms of detailed reporting and calculation specifications, investing in a more centralized data management framework and efficient data governance is not anymore an option.
How does Finalyse address your challenges?
Audit:
Adapt to the client context, data awareness and level of compliance with BCBS 239
Implement:
From source to report, from feasibility study to BaU, simplifying redundant data transfers & manipulations
Focus on Value:
Prioritize effort and processes to maximize business value increasing data ownership, commitment and comprehension across departments
Organise:
Clear roles and responsibilities with robust data governance and final reporting based on signed-off data
Strengthen:
Best practices and hands-on tools at each step
Long term change:
Step by step turning into a data-driven organisation relying on better risk management reporting capabilities based on higher data quality
How does it work in practice?
Finalyse proposes a top-down approach (starting with the analysis of the reports) highlighting the dependencies between all involved business functions, IT, and Data Offices during the project lifecycle through a list of clearly identified deliverables that should be produced for each iteration.
Main deliverables completed in the steps of the Implementation Process ( as in above chart) are briefly detailed hereunder:
Key Features
- A hands-on top-down approach focusing on business value, shared across the departments involved in the project (Risk, Finance, IT, Data Offices).
- A RACI matrix defining the Roles and Responsibilities (who is accountable for each data and report) and allowing intermediary and final sign-off of data/reports.
- A full process performed and documented through predefined templates – from Audit (an assessment on the completeness and correctness of the data) to new Business Requirements definition (i.e. Data Dictionaries), functional documentation (i.e. Data Delivery Process) and Data Optimization.
- A streamlined Data Validation Process building Trust and Ownership by defining functional and technical test cases for each participant in testing activities.
- An efficient Data Quality Framework by developing the right quality metrics and implementing the appropriate monitoring tools.
Our subject matter experts
Through his consultancy career, Thomas has developed a sharp expertise in financial products, data quality, processes and (regulatory) reporting. He has gained thorough experience in data modelling techniques and reporting tools when building Data Warehouse / Datamart projects & Reporting Framework for the Market Risk & ALM departments of several banking institutions. He developed a strong experience in BCBS 239 implementation projects, tackling data quality issues and putting in place data governance framework.
Hugo is a Managing Consultant in Finalyse Brussels. He has a wide knowledge and expertise in financial products, valuation algorithms, reporting and regulatory issues. He combines in depth knowledge of banking financial risks and regulations with a wide understanding of the data, IT infrastructure and processes underneath. Hugo has been involved in multiple Risk and Regulatory Reporting implementation projects such as RWA calculation for credit risk, EAD calculation under SACCR, automation of internal reports for ALM and implementation of data governance to comply with BCBS239. Hugo is an experienced Agile project manager who stands-out for his dynamism, adaptability and interpersonal skills.
Maria Nefrou is a Managing Risk Consultant in Finalyse Brussels with extensive experience in Data Management, having recently acted as Program Manager for the BCBS 239 Implementation at a major Dutch bank, steering upon main stakeholders and reporting to management and the regulator. Maria has a more than 10 years of experience in Banking, particularly on Risk and Regulatory reporting. She has taken up different roles related to: Business Implementation Management; QRM Reporting Implementation; Enablement of Credit Risk models (PD, LGD, EAD) for IFRS 9 purposes (ECL, SICR) using SAS while performing quality controls and acting as a Process Manager within the project team.
Manfredo is a Senior Risk Consultant in Finalyse Brussels with experience in the financial sector working for several banks and insurance companies. He has wide experience with Pillar I (S2, CRR2) and Pillar III solutions, as well as BCBS 239. Manfredo has been recently busy in the KBC Group Risk department as a business analyst in the context of a group-wide program to enhance the Data Quality of the regulatory reporting and calculations Manfredo is a Project Manager and certified SAFe Agile Scrum Master.