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Wealth and investment management decisions rely on high-quality risk analytics. In addition, strict federal regulations require timely monitoring and reporting activities. It can be challenging to staff a team with the proper skillset and experience, especially during periods of growth. Evalueserve helped a wealth and investment division meet all its targets while ensuring compliance with the BCBS 239 guidelines.
Decisions in wealth and investment management rely on high-quality risk analytics. Regular reporting to senior management and other decision makers ensures that all positions and risk moves are clearly understood. In addition to internal demands, strict federal regulations require timely monitoring and reporting activities. It can be a challenge for a company to staff a team with the proper skillset and experience, especially during periods of growth. The client’s credit risk reporting and analytics team were tasked with meeting the reporting and analytical needs of credit risk managers across the WIM line of business. However, they encountered challenges in building a comprehensive framework for credit risk reporting to cater to needs of senior management. In addition, all of the reporting had to be made compliant with BCBS 239 guidelines on data integration and risk reporting.
Evalueserve leveraged its global recruitment engine to set up a team of specialists in ETL processes and best-in-class reporting tools. All of the team members have extensive financial services industry experience.
The team developed and implemented a robust and agile risk-reporting framework that includes a complete suite of executive, operational and tactical dashboards and reports. This makes it easy to identify actionable items and to assess their enterprise-wide impact.
This team also gave full support for data governance initiatives aimed at compliance with BCBS 239 requirements. These initiatives included enhancements to the metadata management system and the addition of data lineage and validation functionalities within the system. These allow the extraction of data lineage reports for any data object, streamlining the monitoring process. This is also used for defect tracking, task assignment and project management.
A new application was developed to perform data validations on sourced data, revealing gaps and permitting remedial action. By automating this process, further time savings have been introduced.
The team has developed more than 80 credit risk reports over the last 4 years and enhanced the existing dashboards to ensure better performance and deeper insights. This comprehensive credit risk reporting framework has given:
50% increase in the user base for internal reports and 60% increase in use of the data available through the metadata management system
Comprehensive solution for BCBS239 reporting
Insightful executive dashboards for risk position and limit monitoring
Enhanced decision-making abilities
Time savings due to automated data validation tools