Delivering and Sustaining Complex Financial Regulatory Data Reports

Overview

A global, Japan-based bank needed to comply with BASEL standards originating from its American subsidiaries. The bank did not possess the necessary technology or management processes to provide required reporting to regulatory bodies. Alacer was selected to support program management.

Challenges

The project required acquiring data elements from multiple source systems, a centralized data warehouse to create aggregated schedules and daily head office file processing, all with robust quality monitoring and remediation processes to ensure data integrity and accuracy.
The biggest challenge? Building the infrastructure to collect and manage data from multiple lines of business and record-keeping systems. In addition to technical complexities, constraints included:
• Japanese and U.S. regulatory requirements and privacy laws differ greatly;
• Coordination and communication challenges between more than 100 team members from functional teams in Japan and the US;
• The bank needed to maintain its legacy operating model to ensure business sustainability and customer availability.

Results

The Alacer Group successfully supported for creation of a new technology infrastructure and data capture processes, ensuring delivery within budget and regulatory deadlines. Senior Alacer consultants worked in Japan and the US advising bank business and technology leads on the project, with strict goals to:
• Align business requirements and quality assurance with project delivery;
• Ensure consistent and high-quality team communications and reporting;
• Deliver a change management structure as part of the new model.
The project was delivered on time and on budget without interruption of operations or data quality issues. The powerful operating model included policy and procedure documentation, staffing levels, and issue management processes to ensure smooth operations with a sustainable change management approach. Alacer’s consultation and leadership role on the project was identified as a key success factor. Alacer’s methodology has been recognized as a ‘best practice’ for large and complex enterprise initiatives