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Improving organization's financial strength through transparency in bank operations

Updated On : February 2017

Controllers & Regulators, shareholders, and internal business stakeholders want better transparency into bank operations in order to improve organizational financial strength. Also, controllers & managers wants that financial institutions to establish suitable levels of:

  • Risk data aggregation
  • Robust Comprehensive Capital Analysis and Review (CCAR) processes
  • Strong liquidity monitoring measures
  • Thorough and ongoing recovery and resolution planning process

Universally, several banks/financial institutions struggle to manage data with the rigor required to satisfy these demands, and plenty of them fail to support stronger collaboration between departments like Finance & Risk. Initially, this might have been invulnerable. Though data is the mainstay of both risk and finance, the two sections have factually consumed and outputted it very inversely.

According to a fresh research done by the Global Association of Risk Professionals and SAS, less than half of the managers surveyed said their financial institutions know-how on data management was satisfactory or week. For organizations that has dearth of this know-how, they are being deprived of understandings that we feel could help them enhance business decisions and, in many cases, can leave them open to additional regulatory examination. The risk and finance functions will play a very important role in determining and solving these deficiencies.

Our recommendations

By focusing on the four key components of data management, banks/financial institutions can improve their data management capabilities across the organization as well as among the risk and finance teams. Below we discuss specific recommended activities related to each component in more detail.

Data ownership and stewardship

  • Empower CDO with full support from C-suite
  • Create data governance council
  • Align risk & finance teams
  • Oversee the execution of data policies & procedures

Data architecture

  • Define, consolidate & standardize the blueprint for data sourcing to a "single point of truth" across the risk & finance functions
  • Standardize definitions & classifications of products, customers and other variables
  • Reduce data replication

Metadata management

  • Develop standards & systems to manage the source, quality, consistency, usability, security & availability of data
  • Define consistent business information model
  • Define standards of continually refine data attributes & better manage how data is sourced, collected & stored

Data delivery

  • Assess reporting needs across the risk & finance functions
  • bPartner with business to enhance reports
  • cPartner with IT to take benefit of leading technologies

CLIENT SPEAK

  • CBS

    “The Bank is associated with M/S Nelito since 2002. M/S Nelito Systems Ltd has been our CBS vendor since 2009. The Products, quality of service offered by them are excellent. They have a very good support team and are trained enough for handling any type of situation.”

    D K Kandpal | Vice President (IT)

    Nainital Bank
  • MIS ADF

    “Good & Co-operative.”

    Ronniee Gupta | DGM

    UCO Bank
  • CBS

    “We appreciate your local team who continuously supported & assisted our team to meet the goal.”

    Nagendra Nath Sinha | Principal Secretary IT

    Government of Jharkhand, Ranchi
  • CBS

    Knowledge and service provided to the bank is beyond expectation. And we would definitely engage and recommend solution to others .

    Rachelle F. Rivas | IT Project Manager (Senior Manager)

    Bank of the Philippine Islands (BPI)
  • CBS

    • As Vendor strict adherence to process & procedures
    • Risk Mitigants in Place
    • Flexible to customer requirements

    Dinesh Negi | VP (Clg)

    DCB Bank Ltd
  • Custom Application Development testimonial

    Bank has implemented CBS of Nelito Ltd in the year 2008-09 in phase manner. Also integrated RTGS/NEFT, CTS, MMS etc which help us in smooth automation of banking operation.

    K.T. Wadia | CEO

    The Sutex Co-op bank Ltd
  • CBS

    Experience during development of Rating Engine Module has been good in the context of commitment to meet timelines & lot of hard work has been put by Nelito's team.

    Ashuthsoh Satsangi | VP-Operations

    SMERA
  • CBS

    Everything was successfully implemented and tested. The implementation was professionally done in a very efficient and cooperative manner. Migration was very smooth.

    Frithjof Ramb | Vice President

    SBI- Frankfurt, Germany
  • CBS

    Nelito and its team has always been supportive and efficient in achieving the tasks set up by the Dept. Apps developed by the software engineers for the Public Health Dept have proved to be excellent among the top competitors and have been acclaimed for its effective service delivery to the end user at the grass root level which is the foremost object of any Govt organization. Many thanks for the sincere efforts.

    Sanjay Kamlakar | Under Secretary to GoM

    Govt of Maharashtra