05 Nov A Leading Canadian Financial Institution’s Data Lineage And CCAR Success Story
Complying with Dodd Frank’s Comprehensive Capital Adequacy Review (CCAR) requirements to retrieve, manage, and reconcile volumes of disparate, diverse data has been a massive undertaking for financial institutions. For many, of necessity, the embedded requirement to conform to BCBS 239 data lineage standards had to take second place. Now, regulators are demanding progress and issuing CCAR data lineage testing deadlines for banks to prove they are BCBS 239 compliant.
A large Canadian financial institution had to address this very situation. And it was a double-sided challenge. Filers must produce lineage in their regulatory data system and at the same time, begin to address how to connect regulatory data lineage with enterprise lineages upstream of the regulatory-reporting system. The firm had to prepare for their CCAR data lineage deadlines under considerable time pressure.
The client was already successfully using AxiomSL’s CCAR solution running on the ControllerView® data integrity and control platform. To tackle BCBS 239 preparation systematically, the firm turned to AxiomSL and decided to implement the LineageView platform-native capability into its CCAR solution.
LineageView delivers intelligence throughout the entire process via four key functionalities ‒ capture and documentation, visualization, exportable metadata, and data tracing. These capabilities enable financial institutions to draw upon several lineage perspectives depending on the analytic or inspection need.
With LineageView, the firm can now easily see the data flows, enrichments, aggregations, calculations, reconciliations, and validations used to produce its CCAR submissions. This positioned the firm to pass the regulator’s remediation requirements and demonstrate BCBS 239 data lineage compliance.
Not only did implementing LineageView strengthen the firm’s data management, quality, and governance capabilities, it also streamlined regulatory reporting processes, bolstered audit defense, and delivered compelling insights.