Enquiry Form


Aligning risk and finance functions through developments in four key data management components

Updated On : February 2017

Various banks/financial institutions/financial institutions find it problematic to meet the informational demands of regulators and other stakeholders. Structuring improved & recovering data management competences is crucial to meet these demands. To be effective, banks/financial institutions/financial institutions should align their risk and finance functions while concurrently making developments in four key components of data management:

  • Data ownership and stewardship Discusses about the policies and procedures concerning the accountability and responsibility of data. Though some banks/financial institutions have established policies and procedures that define the accountabilities for data owners and stewards, they haven't been principally effective in fulfilling these responsibilities and introducing lasting change in how data is overseen. To help achieve roles and responsibilities, some institutions have chosen to employ a Chief Data Officer (CDO) to oversee the bank's enterprise-wide data governance and its use of data as an asset. According to a current study conducted by Forrester Research, establishments with a CDO were 70% more likely to reduce risk and well ensure compliance than an organization without a CDO. Yet some banks/financial institutions that have a CDO remain to struggle in figuring out the scope and responsibilities of this new specialised individual.
  • Data architecture A bank's data architecture is a collection of blueprints intended to regulate how data is collected, processed, stored, and consumed across the enterprise and aligned with the business strategy. In our experience, maximum of the banks/financial institutions work with a fragmented, sometimes archaic, systems architecture that creates gigantic gaps in the processes of storing, querying, retrieving, and utilizing data. Though the past period has seen a tendency to resolve these gaps, yet several banks/financial institutions still lag behind.
  • Metadata management Metadata is data about data—data that tells us when, where, and how primary data was acquired, created, or revised; how it is formatted; where it is located; and who is responsible for it. Many banks/financial institutions have been working to create consistent business information models that standardize, format, and reference data. Although there has been success managing metadata for risk or finance individually, there is more work to do to make sure these two are aligned.
  • Data delivery Data delivery refers to an institutions ability to efficiently provide accurate information to the right users. Both the risk and finance functions are now being asked to provide more detailed reporting, more quickly than in the past. In cases in which reports include similar information, the two functions are being asked to reconcile their numbers, demonstrating that what has been provided by finance matches what has been provided by risk. The following examples are all heavily dependent on accurate reporting of daily financial product performance and capital information: daily liquidity reporting, CCAR reporting, market-risk reporting, and liquidity stress testing.

Leave Comments :


  • 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

    “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

  • 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
  • DGM

    "We appreciate Nelito team who were always on time and responsive to our needs and changing ideas. They worked efficiently from the project inception to its completion in a timely and professional manner. Their understanding of this space has been invaluable to the success and launch of 'PMAY CLSS' app."

    Susanta K. Padhi | DGM

    National Housing Bank