Insights

Data Remediation and CCAR Reporting Support for a Global Investment Bank

data remediation and ccar reporting

 

Use Case

A global investment bank was struggling to meet the demands of Comprehensive Capital Analysis and Review (CCAR) regulatory reporting due to data quality challenges. Outdated data models, siloed architecture, and inconsistent reporting across functions created substantial barriers to data integrity that were growing more complex over time.

Additionally, the bank's regulators were concerned with the number of manual adjustments necessary to produce required reporting as well as the controls around business processes.

The client engaged CrossCountry Consulting to assist in:

  • Developing a data remediation program that would determine the root cause of data anomalies.
  • Generating tactical and strategic solutions to address the anomalies.
  • Performing a monthly data health check to monitor progress.

Our Approach 

The project approach included the following key elements:

  • Creation of data extracts from source systems.
  • Development of a set of business rules to run against data extracts and automatically
    detect a certain class of data quality issues.
  • Development of data quality dashboard, utilizing Qlikview, to display data health check
    results to business owners in a user-friendly manner.
  • Creation of a monthly health-check calendar with key dates for running business rules
    and distributing results to business owners for remediation.
  • Development of a process to triage data quality issues, assign priorities, log into
    tracking tool, and assign to a business analyst for further investigation.
  • Development of a solution design and creation of business requirements for implementation by technology teams.

By creating a data quality dashboard, recurring issues could be identified and solutions deployed. These solutions typically took the form of a business process or technology system change.

Our Impact 

CrossCountry's holistic solutions targeted not just the data but, where relevant, the underlying business processes and architecture that powered the firm.

As data quality issues began to resolve, the client was able to produce their CCAR reports with a much lower level of manual intervention, thereby saving time and cost, as well as allaying regulator concerns regarding manual adjustments.

Publishing the data monthly allowed business owners to see progress and to escalate issues when necessary. This brought a level of data quality and transparency that had previously been unachievable.

 

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