Data requirements analysis for regulatory reporting

Client Needs & Objectives

As part of the creation of an Intermediate Holding Company with specific capital, liquidity and reporting requirements (FED regulatory requirements), the objectives were threefold:

  • Analyse Fed calculation and reporting requirements and translate them into data elements
  • Perform the data gap analysis and identify remediation actions
  • Build the framework to ensure data quality (lineage, tool etc.)
  • Implement effective data ownership

Our approach

  • Analyse Fed instructions according to the bank specificities and identify all required data elements in coordination with the business
  • Perform data gap analysis related to sourcing, transformation and quality: define golden source for each data element, transformation and calculation needs, perform lineage (upstream to reporting systems), assess the quality
  • For each data element, identify all stakeholders i.e. business owner, application owner, data steward etc.
  • Prioritise and launch remediation actions with a criticality assessment (based on criteria such as the weight of activity, cross-dependencies with other Fed reports, complexity of the implementation, time constraints etc.)

Client Benefits & Main Results

  • Define detailed roles and responsibilities and reach a consensus with all the stakeholders

  • Ensure consistency across the different initiatives in the bank (common data elements should have the same golden source)

  • Start remediation actions as soon as possible (even though the assessment is not finalized) to meet the tight deadlines

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