Objective

To help a European bank provide demonstrable evidence that it was meeting risk data management data standards as part of the Basel II framework.

CRISIL's Solution

• Quantification of Strategy
  
  • Identified data quality requirements for each functional unit
  • Identified critical data attributes
  • Developed data quality scorecard in consultation with functional units
    
• Quality Assurance
  
  • Developed data quality tests
    
  • Defined tracking error thresholds to flag exceptions
    
• Current State Study 
  
  • Completed study of the current data life cycle to understand the current validity and tolerance levels and quality assessment procedures
    
• Data Enrichment & Control Environment
  
  • Performed data cleansing including removing duplication of data, formatting data requirements, ensuring data integrity at source point for each individual data point
    
  • Revamped data acquisition and life cycle management procedures to improve data quality at all levels
    
  • Utilised data quality scorecard on an ongoing basis to track changes and resolution management
    
  • Documented all processes, data quality metrics and standards

Client Impact

CRISIL delivered a comprehensive data quality strategy implementation framework that:

• Precisely measures the level of data quality, monitors quality on an ongoing basis, and performs root-cause analysis;
  
• Ties business processes to data integrity;
  
• Documents standards on measurement tools, targets and processes;
• Helped the bank meet regulatory requirements to ensure data integrity, accuracy and completeness.
  

Questions

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