Client Challenge
The client, a Nordic Bank, aimed at becoming compliant with the BCBS239 regulation by initiating the implementation of foundational Data Management capabilities, for an initially narrow, risk data scope.
The capabilities would then be scaled-up to cover all risk data flows of the bank. By implementing data management capabilities, the bank will not only be given a license to operate in being compliant. They will also get more time for value-creating analysis e.g., less time spent in cleansing, supplementing, and verifying data. This will create a better base for the digitalization journey.
Assignment
We led the architectural design and implementation for the foundational Data Management capabilities with a Data Catalogue as the enabling tool.
Foundational capabilities:
- Data Discovery
- Technical Metadata management (incl. source system integration and dictionary population)
- Business Metadata management (incl. business term definition and classification)
- Data Lineage generation
A key challenge was to integrate the Data Catalogue with the Bank’s legacy IT landscape where Opticos supported the Bank in identifying feasible approaches for capturing as much technical metadata and stitching it together with manual additions to gain control over the data landscape.
We also reinforced the Bank to envision parts of a future Data & Analytics target architecture and the subsequent procurement of a next-generation Data Management Platform.
Client Benefits
Opticos engagement enabled the following developments:
- Piloted foundational Data Management capabilities, ready to be scaled up to other risk data flows.
- Insight into business stakeholder retentiveness of Data Management practices.
- Tangible evidence of BCBS239 gap closure, for regulatory authorities.
- Traceability for other regulatory purposes, e.g., CCPA and GDPRA vision of the Banks future D&A target architecture together with clarified and structured requirements for the new Data Management Platform.
