Risk Management

Solving business challenge

Regulators such as the Financial Services Authority and the Federal Reserve Bank in the United States demand timely, accurate, trusted and verifiable risk reporting from financial institutions. To get the best use of risk data it needs to be structured or normalised and then consolidated across the whole organisation.

Empowered Systems provides both the high-level reports demanded by the Regulators, plus fast and intuitive analysis for management by region, country, sector, product, facility, asset class and more.

Our integrated digital reporting replaces weeks of staff time collating and compiling reports that may use unverified data which is subject to manual processing and prone to human error. It gives confidence that the reports are complete and accurate and can help the business move towards real-time reporting.

What VEReDATA does

VEReDATA is a web-based portal that matches and validates data to address a wide array of challenges in data cleansing, normalisation and integration. The portal integrates with any internal or external data source, matching records against an organisation’s own customer records, and validating them against an external golden source. This approach verifies the hierarchical accuracy and completeness of all of the legal entities that make up each corporate structure.

VEReDATA aggregates key information into a unified, enterprise-wide view for senior management. Its powerful workflow engine can be configured to any organisation’s unique procedures. From top-level online reports, users can drill-down from the top level to interrogate or validate any KPI, metric or item of underlying source data.

VEReDATA provides powerful capabilities within “business as usual” procedures. It handles updates to internal and external sources at the same time and ensures that all merger and de-merger activity is accurately replicated and metrics are updated.

VEReDATA technology advantages

Works with virtually any data source, incorporating data feeds from multiple formats and sources – both internally and externally.
New output views, data models and input feeds can be created and deployed in a fraction of the time of more traditional methods.
The inbuilt calculation engine can be extended to include any required business logic and special calculation (e.g. the netting of collateral against risk and computation of the vast array of complex risk algorithms).
User access to data can be customised, so administrators can set and maintain rights, privileges and restrictions as needed.
All user activity is logged and monitored, allowing an auditor to check and monitor system usage.
Creates compliant, reliable and conformant risk reporting, suitable for submission to external regulators such as the FSA and Federal Reserve Bank.
Produces client-specific management information for consumption by senior management and other organisational stakeholders.
Runs on a unique fuzzy matching engine which links internal records to external “golden source” data, in line with corporate legal entity structures.
New customer records can be automatically incorporated and managed in conjunction with business as usual imports.

VEReDATA Features

Core Capabilities

Assigns accountability and ownership to data reporting and management .
Gives instant access to all enterprise data.
Allows multi-dimensional analysis and reporting at any level.
Allows organisations to measure their performance at any point in time as well as monitoring their progress towards achieving set targets.
Uses a robust security model that reports only relevant and / or approved information on a strict ‘authorisation to view’ basis.
Has comprehensive audit trail capabilities, fully tracking changes to the configuration of the tool as well as changes to the data within.

Personal Dashboards

Personalised real-time views for each stakeholder’s view of the organisation
Information and status indicators for “need to know” intelligence
Warning indicators and an email-based alert system
Tables and graphs that show performance and progress towards targets
Ability to delve to the lowest level of supporting data to understand the results.

Scorecards

Drill-down to underlying data.
Export to PDF or Excel files.
Traffic light (red-amber-green) rating assessment system that is calculated or assessed.
Transparency in reporting, appropriate to hierarchy and reporting lines.