Objective

To replace a large European Investment Bank's fragmented legacy system with a unified, integrated "Golden Data Repository" for centralized finance and regulatory reporting.

CRISIL's Solution

• CRISIL applied the big-data approach to create a unified platform catering to the needs of various groups within CFO organization, and covering all financial and regulatory reporting functions, including System Design, Data Modelling, Data Enrichment, Validations, Adjustments, Data Sourcing and Reporting and Support Development in agile environment
  
• Because creating a single platform for multiple groups leads to complex data modelling and design challenges, CRISIL began by assembling a team with a diverse mix of talents and conducting extensive current-state analysis and documentation. The team then followed a disciplined process:
  
  • Solutioning &  Documenting the Requirement
    • Gap and impact analysis
      
    • BRDs & solutioning
      
    • PoC's
      
  • Development Support, Testing & Validation
    
    • Mock-ups & User Stories
      
    • Test cases & scenarios
      
    • Functional testing
      
  • Dry Run, Parallel Run & Go Live
    
    • Dry, Parallel run and Go-live support & User education
    • Variance analysis and presentation to business
      
  • Project Management, Governance & Control
    
    • Support to OpCo, working group, design forum etc.
      
    • RAID logs, standardisation of sprint planning and reporting
      
• The CRISIL team produced 200+ reports for group disclosure, provided support across functions within finance the change team, and generated comprehensive documentation of the end-to-end business process etc.
  
• CRISIL team that helped build the new unified and integrated system performs the following functions:
  
  • Data Modelling
    • Physical data modelling and logical data modelling in big data platform to cater to the multiple reporting group within CFO Organization
      
  • Sourcing & Reporting
    
    • Front-to-back data flow of the existing vs. proposed structure, identifying required attributes, documentation of reporting logic, analysis & validations
      
  • Common Services
    
    • Data quality rules, exception management, Reconciliation of source vs platform, business rules for data enrichment, adjustment & close management
      

Client Impact

• Reduced risks, including the elimination of key man risk;
• Improved controls;
• Easing of regulatory compliance burdens;
• Time and cost savings from significant efficiency gains

Questions

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