A financial institution was looking for a digital solution to optimize its risk reporting related to the lending business. The regulation standard is requesting continuous monitoring of risk-related measures. A large proportion of the monitoring tasks were based on Excel-Sheets and e-mail communication. That did not meet the transparency and speed expectations of internal and external auditors.
Those requirements came up with the "Principles for the Effective Aggregation of Risk Data and Risk Reporting" (BCBS 239) released by the Basel Committee on Banking Supervision and emerged by specifications of the EBA guidelines and Environmental, Social, Governance (ESG) amendments. Coping with new capabilities on a continuous basis requires a very flexible and scalable IT infrastructure.
The following scope was identified for the project:
The cross-functional team of internal developers, knowis Expert Labs, and IBM Expert Labs is based on a concept of easily customizable domain modules as well as technical capabilities of orchestration and report generation.
The project 'Portfolio Management' was turned into a program and is constantly evolving due to new regulatory amendments and announcements.
Fully automated documentation and logging of user or system activities