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Report Automation: FASTER COMPLIANCE WITH RISK REPORT RATIONALIZATION, AUTOMATION AND VISUALIZATION

Desired Capabilities

  • Business Reporting
  • Compliance
  • Credit Risk
  • Data Analytics
  • Data Visualization
  • Digital Transformation
  • Operational Efficiency

The Situation

Manually updated spreadsheets, calculations, and presentations of critical reporting were creating regulatory compliance concerns for the chief credit officer and first-line businesses of a Top 30 bank. Risk analysts were spending valuable time tracking down data and compiling reports instead of proactively driving business insights for better managing risk.

The bank needed to modernize the production of more than 100 recurring reports, with limited time to complete the work. In some cases, reports or report sub-sections were outdated, offering opportunities to retire unnecessary reporting. Compounding the situation, many data sources had been migrated to the cloud while business processes still pointed to legacy systems.

With its internal resources focused on other priorities or unfamiliar with the business and newer report creation technologies, the client turned to Spinnaker for help.

The Challenge

Develop streamlined recurring risk reporting, including strategic use of automation, within a tight regulator-driven timeframe.

Meaningful Outcomes

  • Built confidence in leaders, who saw their OCC commitments completed as agreed upon.

  • Reduced the number of reports and metrics
    by up to 70% and drove consistency across product lines, helping users quickly find information and reducing the ongoing costs of creation and maintenance.

  • Delivered touch-free, faster information access by triggering automated report regeneration as fresh underlying data became available in source systems.

  • Reallocated analyst time to focus on value-added insight generation instead of hours of tedious manual work to prepare and validate reports.

     
 

“It’s great that we’ll be ensuring the rigor is always there without consuming the team’s bandwidth further.” – Credit Officer, Top 30 Bank

Our Approach

Working with credit officers, business leaders and their teams, Spinnaker prioritized reports according to criticality, complexity, data availability and suitability for automation.
We identified opportunities to rationalize overlapping metrics and/or reports, which eliminated waste. Upon identifying inconsistencies between product lines, we facilitated alignment of intent between leaders of each businesses, and then developed the tailored reports and metrics each needed.

We collaborated with our client’s analyst teams to understand existing reports, definitions and logic. From there, we worked with SMEs on mapping data to its source and documenting the metadata. Drawing on our deep experience in financial services analytics, we recommended alternate views that the client adopted. The team efficiently coded metrics into desired Tableau visualizations, adhering to internal standards while unleashing the platform’s power so end users could customize views, timeframes and filters.

Spinnaker then documented the changes to support testing and audit activities before promoting the newly automated versions to production. Running legacy and new processes in parallel confirmed report accuracy in advance of retiring each manual report. Our final step was to provide guidance to the internal team, empowering them to continually maintain, update and evolve their reporting suite over time.