Formerly known as Global Research & Risk Solutions

  • Crisil Integral IQ
  • Financial Services
January 06, 2025 Content Type Case study

Assurance Testing for SFTR Regulatory Reporting Platform for a global financial services firm

January 06, 2025 Content Type Case study

 

 

Objective

 

  • Testing platform compliance to ESMA and FCA regulations
  • Provide recommendations for platform improvement
  • Investigate third party data source quality
  • Assurance for platform

 

Key Outcomes

 

  • 3000+ tests covering end to end data flow & processing
  • Heat map covering criticality & recommendations for findings
  • Detailed test report and recommendations for improvement
  • Quality check certification

 

Approach

 

Performed end-to-end testing and documentation covering the following processes:

 

 

  • Data Ingestion & API tests : Performed 800+ checks to ensure files are received in the correct format and APIs are working effectively
  • Data Validation tests: Checked compliance with 500+ Regulatory schema rules for input data
  • Exception Management: Checked 200+ exception codes to ensure exceptions were raised and documented properly
  • UTI lineage : Checked lineage of Unique Trade Identifier (UTI) codes while passing through various stages of the solution
  • Scenario testing: Checked compliance with various scenarios and action sequences allowed as per regulatory specifications
  • Data enrichment : Tested data source quality for 3rd party data feeds for additional enrichments carried out by the platform
  • Trade Repository reporting : Tested output XML Trade Repository reports for compliance with regulatory schemas
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