Automation of Regulatory Reporting processes leveraging Robotics Process Automation (RPA) for number of large Banks
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Liquidity Reporting
Process
Data extraction from COGNOS cube for consumption for Encumbrance Mismatch Reporting (PRA110) and AE Reporting. The encumbered / unencumbered product-wise cash inflow & outflow data, for various maturity bucket, and asset encumbrance data is used for EMR & AE reporting
Problem statement
Time consuming process data extraction process
Repurposing of FTE
CRISIL's solution
RPA automation using UI Path recommended
Automated the data extraction process using an "unattended" RPA
Robotics was programed to auto-schedule runs twice a day to extract data in excel format & store it in the target database for EMR & AE reporting
Client impact
Man hours = 8 man hours/ day saved
3 FTE’s, dedicated to the data extraction process, were redeployed to carry out more analytical stuff
RWA Reporting
Process
RWA reporting is the monthly regulatory submission for the bank. This process requires stringent data validation to ensure accurate RWA is reported since it has an impact on the capital adequacy of the bank
Problem statement
Monthly repetitive manual adjustments to RWA
Huge cost in managing these standard adjustments
CRISIL's solution
Since, the adjustments were repetitive in nature and rule-based, RPA was a recommended solution. UI Path was considered for automation.
The same “unattended” RPA license, that was used for liquidity data extraction, was also leveraged for RWA
Each of the 250 adjustments, were programed using RPA, which was scheduled to pass these adjustments on WD 8 of every month
Client impact
Man hours = 96 man hours/ day saved
12 FTE's dedicated to RWA adjustments were released to other processes
Accelerated reporting of RWA to Board, CFO and regulators, at-least by a week
Overall business value
FTE Savings: 13; leading to Cost Savings = £300,000 annually from a single RPA license
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