Stress Tests Are Stressful. Our Compliance Data Quality Management Solution Makes Them Less So.
Regulations such as Dodd-Frank (CCAR) and Basel (BCBS 239) have created an unprecedented need for improved data aggregation and data quality capabilities at major financial institutions. While most institutions have passed CCAR and have initiated some form of BCBS compliance program, many are still looking to gain efficiencies and move into a “steady-state” environment.
Yet getting there is made difficult by the gaps that continue to exist in most institutions between what the business needs and what IT provides. For example, while the business needs to regularize governance, dashboards and issue resolution mechanisms, IT is most adept at delivering software products, solutions from multiple teams and reams of data and reports.
That’s where Xoriant CDi comes in. For CCAR banks struggling to report the right metrics to the right audiences on a timely basis, we have developed a data profiling and issue logging solution that includes executive dashboards, issue management reporting and operational metrics.
- CCAR Data Profiling – Support for profiling data attributes required to develop FRY M, Q and Y reports
- Issue Tracking and Reporting – Fed Edit checks for validating data elements including extensive exception reporting
- Data Sourcing and Quality Measurement – Operational and executive dashboards for tracking data sourcing activities including a data quality scorecard
- Solve critical regulatory and compliance issues with a proven, standardized solution set that is easily customized to your specific environment
- Avoid the risk and expense of implementing an internal or custom solution
- Achieve compliance goals sooner by utilizing a template already proven at other banks
- Better and more efficient integration into larger business workflows
- Easier long term maintainability by using standard industry tools and solution sets
Why Xoriant CDi
- We understand the industry, from the business side. CDI was founded 15+ years ago by a consortium of banks
- We bridge the gap between the business stakeholders who need to address CCAR and BCBS 239 requirements and IT organizations where software is traditionally sold
- We have successfully implemented a number of projects under the CCAR program for customers including the world’s largest banks; our primary dialogue is with CDO, Risk, Compliance, and Line-of-Business organizations
- We have performed countless hours of data analysis and data remediation; our team members have become CCAR data subject matter experts