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Customer Story

Syncsort Trillium Helps Leading US Bank Establish Sustainable CCAR Process

Critical Issue

A large U.S. financial institution faced scrutiny from the Federal Reserve Board (FRB) due to numerous errors in its Comprehensive Capital Analysis and Review (CCAR) submissions. The business leaders at this bank were plagued by a lack of visibility into the quality of the data required for CCAR, making it impossible to pinpoint the source of the data errors or establish a process to ensure that future submissions were in compliance with the ever-changing rules from the FRB.

Syncsort Trillium Data Assurance Solutions leveraging Trillium DQ enabled business leaders at the bank to take control of their data, reducing submission errors, quickly adapting to shifting CCAR requirements and strengthening their relationship with regulators. Syncsort helped the bank establish a sustainable business-as-usual process for CCAR data assurance in less than 30 days. The Solutions blend Trillium DQ’s scalable and powerful technology platform, pre-built CCAR rules and Syncsort’s expertise in improving the quality of data to support multiple regulatory regimes.

Reduce Submission Errors

The Challenge

The bank lacked visibility into the quality of the data that powered their CCAR submissions. Because they were missing a granular-level view of key data elements, they were unable to identify data defects prior to filing submissions to the FRB and had no way of verifying failures post-submission. The bank needed data quality assurance in order to have confidence in their monthly FR Y-14 submissions.

The Solution

With Syncsort Trillium Data Assurance Solutions, business users at the bank were able to rapidly access, validate, analyze and monitor key data elements across multiple source systems for greater control and insight. Trillium DQ’s pre-built business rule and edit check templates enabled business data analysts to easily identify CCAR submission compliance issues to ensure they met reporting deadlines.

The Results

Automating the process for identifying data defects saved the bank countless manhours, and they were able to begin remediation activities prior to submission to the FRB. If the bank failed an edit check, they used Trillium DQ to validate the failure so that they could proactively discuss the issues with the FRB prior to submission.

Adjust to Regulatory Changes

The Challenge

Before using Syncsort Trillium Solutions, the business leaders who were responsible for the bank’s CCAR submissions had no control over their data; it originated from and was managed by the IT group, which did not understand CCAR data requirements. As a result, the business team could not rapidly respond to rule changes from the FRB, which could be as frequent as three times per month, because they had to log their requests into an IT queue behind other pressing priorities.e.

The Solution

Trillium DQ’s powerful rules engine enabled business users to make changes to edit check templates, add new business rules on demand, and execute the hundreds of simultaneous edit checks required to meet ever-changing FRB requirements. With the intuitive user interface they were able to quickly create, categorize and store CCAR rules and all related edit checks without burdening IT.

The Results

As a result of the business users being able to react quickly to the changing demands from the FRB, turnaround times for addressing new rules decreased from weeks to days. With better quality controls, business users felt more confident that the data for their CCAR submissions was accurate and fit-for-purpose.

Strengthen Relationships with Regulators

The Challenge

The business team needed better data transparency and the ability to access the critical data feeds required for CCAR data. Without this, the group was unable to easily and quickly identify the issues responsible for their CCAR submission failures.

The Solution

The bank utilized Syncsort Trillium’s Data Assurance Solution as best practice templates for viewing CCAR edit checks. With multiple data views they were able to see compliance trends over time and quickly identify top noncompliant data elements.

The Results

The results provided the clients with a trusted view into the data and greater data transparency from source to submission. With data defects clearly represented, business users could quickly remediate the data and confidently attest to the accuracy of their CCAR submissions. The bank also included dashboards along with their CCAR submissions to demonstrate to the FRB that proper standards and data monitoring processes were in place to support ongoing data remediation and data governance.

Conclusion

In less than 30 days, the bank significantly improved the quality of their CCAR submission data and expedited their submission process. Business users leveraged Trillium DQ’s pre-built edit check templates to reduce CCAR submission errors, and the Trillium DQ rules engine to quickly adapt to regulator changes, and visually presented results to attest to CCAR data quality and prove to regulators that sustainable data governance process were in place.