Objective

To help a Global Bank increase efficiency of its regulatory reporting process by implementing strategic reporting tools and providing other ongoing support.

Challenges

• Legacy gaps in requirement gathering, documentation, implementation and testing
• Parallel aggressive timelines for implementation of regulations like Anacredit, FINREP and COREP reports

CRISIL's Solution

• Deployed team of highly skilled Lead BA/SBAs with relevant regulatory reporting experience; mix of onshore and offshore talent
• Established strong governance mechanism at each stage of project – initiation, production and operations; finalisation and tracking through Book of Work
• Regular interaction with multiple stakeholder teams to drive the program
• Ongoing performance and quality reviews by CRISIL SMEs/project managers with engagement from the client’s governance team
• Consistent feedback from the client to gauge the quality and impact of completed work
  

Best Practices and Process Change

• During UAT, a standard best practice approach document (Testing Approach Document) was prepared, ensuring that the best practices were followed while testing and that report/product is defect-free
• Identification of gaps in change processes like need of BRDs, FRD, walkthrough forums
• Creation of Issue tracker to improve output of testing process through client's tool
• Creation of Validation Rules to improve quality of data in regulatory reports (e.g. Anacredit reports)
• Rewriting of complex rules to reduce dependency on other templates (Basel dashboards)
  

Client Impact

• Various business processes and analysis were improved and the following milestones were achieved in a short period:
  
  • COREP: Owned UAT and tested around 120 COREP reports (Internal and External reports) within a month;
  • Anacredit: Owned country-specific BRD and took formal sign-off from 13 country leads within 2-3 weeks;
  • FINREP: Reconciled Data in DWH and streamlined data gaps;
  • Basel: Developed Basel dashboard rules to remove dependency from existing COREP/FINREP templates.
    
• CRISIL has been assisting client in strengthening BA deliverable quality by implementing SDLC best practices like creation of FSDs, Requirement Traceability matrix, etc. 
• Helped implement strategic report generation tool
  

Questions

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