Objective

• As part of Basel II framework, European bank needed a demonstrable evidence of meeting data standards to ensure data driving compliance norms was accurate and complete
• The Scope of work involved implementation of Data Quality Strategy laid out by the bank

CRISIL's solution

• Quantification of Strategy
  
  • Data Quality required by each functional unit was understood
  • Critical Data attributes were identified in line with quality requirements of functional units
  • Data quality scorecard was developed in consultation with functional units

• Quality Assurance
  
  • Data Quality tests were developed to test data quality on an ongoing basis
  • Tracking error thresholds were defined to flag exceptions
    

• Current State Study 
  
  • A study of the current data life cycle was completed to understand the current validity and tolerance levels and quality assessment procedures
    

• Data Enrichment & Control Environment
  
  • Data cleansing including removing duplication of data, formatting data requirements, ensuring data integrity at source point for each individual data point was performed.  
  • Data acquisition and life cycle management procedures were changed to improve data quality at all levels. 
  • On an ongoing basis, the Data quality scorecard was utilised to track changes and resolution management 
  • Documentation of all processes, data quality metrics and standards

Client impact

• A comprehensive data quality strategy implementation framework
• Developed ability to precisely measure the level of data quality and monitor them on an ongoing basis and also to perform root cause analysis
• Tied business processes to data integrity 
• Documented standards on measurement tools, targets and processes
• Helped bank meet regulatory requirements to ensure data integrity, accuracy and completeness
  

Questions

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