Risk Data Aggregation and Risk Reporting

The Challenge

Our client, a prominent Italian bank with over 300 branches, needed a robust and efficient system to improve their management and monitoring of financial risks. The global financial crisis of 2007 had shown that many banks’ were simply not fully prepared in terms of IT and data management and risk reporting when it came to accurately identifying and monitoring financial risk – and our client was well aware of the need to safeguard against a repeat of such incidences in the future.

Their existing reporting system was bogged down with unnecessary details and took a considerable amount of time and effort to complete, as it was being created using a wide variety of different applications and tools. Not only that, but bulk of the data acquisition and recalculation work was manual, making it almost impossible to properly represent important information in graphic or tabular formats. Their reporting process was unsustainable, un-repeatable and above all, unreliable. Something had to change.

That’s where Irion came in with it’s data aggregation and reporting solution.

 

The Solution – Irion

Our client needed to be able to create a risk dashboard that presented their exposed risk in various categories in a synthetic and structured fashion.

They needed a solution that would:

  • automate the entire risk data aggregation process and eliminate all manual work
  • guarantee an appropriate preventive control for data before elaboration
  • integrate the solution into the bank’s internal architecture and processes
  • automatically execute data acquisition and elaboration for transactional input data and metadata
  • automatically calculate all derived indicators
  • guarantee maximum traceability of the process and its re-constructability over time
  • automate the reporting process

Irion uses an extremely agile developing method to considerably reduce traditional phases of analysis. This approach greatly speeds up the time taken to reach complete all the required processes.

To support the client, Irion provides a structured team composed of an experienced project manager, product specialists and industry specialists.

The Benefits

Our client now has a flexible, high performance and fully automated risk data analysis and aggregation solution that is completely documented, versioned and controlled.

The resulting reporting is now more secure and reliable, but most importantly producing a risk dashboard takes substantially less effort than before, allowing the bank to focus on data analysis and results instead of time consuming manual processes – and saving them a great deal of money on operating costs too.

They are able to efficiently generate a clear monthly risk dashboard for their risk committee, free from unnecessary details.