Streamlining Regulatory Reporting with Advanced Data Management for a Swiss Investment Bank

Challenges.

The bank encountered several challenges in its operations: 

• Segregated Data: Multiple data sources hindered data consolidation and harmonization for reporting.
  
• Cost of compliance: The bank incurred huge operational and IT costs to comply with Basel 3 regulatory reporting due to segregated investment banking and private banking applications and data architecture.
  
• Process Harmonization: Streamlining and standardizing reporting processes across the revised architecture was necessary.

Solution.

Coforge implemented an end-to-end solution to address the bank's business process, data, and application architecture challenges. Key highlights of our solution included: 

• Data Governance: Conducted data profiling and cataloguing of reporting-critical data elements, ensuring accurate data lineage.
• Capital BPM: Harmonized processes and controls according to the revised application and data architecture.
• Reporting Data Domain: Leveraged a big data platform to consolidate granular reporting data.
• Data Management: Established a business workflow to review and remediate data quality (DQ) issues before finalizing data for reporting.
• Reporting Layer: Developed a Qlik-based self-service mechanism for internal MIS and front office handoffs.

The Impact

• Compliance Achieved compliance to BCBS 239 in terms of necessary documentation, review, and attestation; Adherence to SoX & RDAR
• Cost Lowered the total cost of ownership for technology and operations
• Operational Efficiency Reduced business cycle times for periodic capital reporting
• Scalability Enhanced system scalability and response time for future changes.
• Data Quality Improved data quality and adherence to SoX and RDAR compliance statements.