MONOCLE INSIGHT

Enterprise Data Management Framework

Stories>Enterprise Data Management Framework

In line with the regulations issued by the Basel Committee of Banking Supervision (BCBS) in the wake of the 2007/2008 Financial Crisis, banks have placed great emphasis on increasing the accuracy of reporting on the various risk types related to the services they offer.

Improving the way in which risk reporting is managed not only ensures regulatory compliance, but also has the potential to unlock long-lasting business value. This can primarily be achieved through the implementation of an enhanced enterprise data management framework and increased reporting aggregation capabilities to support the accurate sourcing of risk-related data and the reporting of associated regulatory metrics.

With extensive knowledge of local and international banking regulations and significant experience in financial compliance, Monocle is equipped to ensure our clients in the financial services industry reap the benefits of an enhanced risk reporting structure. Our approach involves conducting a conceptual and physical, randomly sampled, high-level and detailed analysis between existing data management practices and the requirements explicitly stated and implied by the BCBS regulations. This facilitates the delivery of remedial BCBS-compliant solutions, with all supporting artefacts, process enhancements, and software implementations.

We pride ourselves on our ability to see the bigger picture without sacrificing our attention to detail, and ensure that the wide-ranging impact of change projects on the organisation is always considered, in order to maximise the value that can be achieved by the financial institutions we work with.