Data Lineage Overview
Global standards such as BCBS 239, General Data Protection Regulation (GDPR) or US Federal Reserve CFO Attestation require banks to be accountable for their datasets and strengthen their risk data aggregation capabilities and risk reporting practices. Bank executives responsible for submitting reports and attesting to the numbers and positions need to trust their governance process in order to confidently sign off those reports. The person responsible for reporting should have confidence that the numbers and positions are correct.
AxiomSL’s Data Lineage Solution
Data Lineage Functionality
Automated out-of-the-box data lineage for reporting solutions, and a balance of drilldown and traceability, documentation and filtering capabilities.
Data Tracer, allowing users to track the data flow of financial instruments from the initial source to final report. This is a game changer because users can now see all the different reports that reflect their positions in one place. It also ensures reports are reconciled and complete.
Critical data elements that can be identified and data quality checks that can be instituted across the firm as part of the data governance strategy
A key tool for internal auditors to support banks’ needs regarding data flows, change management and documentation.
Visualization capabilities addressing business and technology needs. Outputs include graphical, narrative (pdf), XML file and others, allowing users to design their specific requests/purposes
The ability for users to respond quickly to inquiries related to numbers in the regulatory reports, freeing up highly skilled analysts, who can be used for data analysis instead of preparing reports.
The capability to track data from a bottom up perspective, or from the top down starting with the end-product report and examining the business logic.
Data Lineage Features
Data-lineage tool captures and documents data flows and business logic from the point of data entry to the final report
Empower the “business user” to make critical decisions with trust and confidence in information
The data tracer allows for the tracking of data through the lineage viewer expanding on current metadata functionality
Reduce cycles spent across teams validating data accuracy
Understand quickly where information originates and improve data governance
Become bcbs 239 compliant quickly and cost effectively without disrupting firms’ existing infrastructure
Enhance collaboration across all business functions and it
Data Lineage Benefits
Provides comprehensive traceability/lineage on how the data flows upstream and downstream
Demonstrates how changes impact the data throughout the entire process
Automates complex workflow process enabling users to review results and ensure accuracy
Ability to identify critical data elements for organizations to build best practices
Data Lineage GPS
AxiomSL’s data lineage technology can be compared to a GPS tracking your “data route” from the source to the final destination while collecting all types of critical information and analytics that will streamline and optimize the bank’s processes along the way.
AxiomSL’s data lineage GPS captures and documents data flows, data transformations, critical data elements and business logic from the point of data entry to the final regulatory or internal management report. The intelligence it gathers yields business value and faster time to market, and delivers the most “reliable and trusted route” to get to your targeted destination confidently and in a timely fashion.
Bank executives are thinking strategically about their data, especially when initiatives such as BCBS 239 have made data lineage a top concern. Regulators are asking for more information on a granular level on a timely basis from quarterly to weekly and in some cases daily.
Tactical approaches and manual processes used to capture lineage and even document it in Excel are not sustainable and create operational inefficiencies. Automation will also free-up highly skilled analysts, who can be used for data analysis rather than preparing reports or solving reconciliation issues. The cornerstone of data governance begins with data lineage, and high data integrity enables banks to enhance their decision process and drive business growth.
AxiomSL’s Data Tracer allows users to track the data flow of financial instruments rom the initial source to the final report. This is a game changer because users can now see all the different reports that reflect their positions in one place.
Data Lineage Tracer Drill Downs
Data Tracer allows report owners the ability to track the data flow of financial instruments from the initial source to the final reports.
Lineage View: From Source to Filings
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