Breakfast briefing: Model risk governance – Do you know where your data comes from?
Join ClusterSeven and PWC for a breakfast briefing at Risk Americas which will cover the topic of data lineage, the best practice associated and what organisations can be doing to give the business confidence in their approach to model risk governance.
The session will take place on Tuesday 23rd May from 7:15 AM
Today’s banks have to report hundreds of metrics to regulators and often these are generated from diverse systems where the data flows from source to report are undocumented. This is especially pronounced where end-user computing tools such as Excel spreadsheets are involved. Risk and IT departments rarely have a visual representation of these processes and flows at the enterprise level, an imperative for robust data governance and BCBS 239 compliance
Documenting data lineage begins with documenting the process in detail and includes cataloging data terms, applications, data stores, conceptual and physical data models used to generate the metric. The next step is to link the components, which typically involves quantitative scanning that is augmented with qualitative user input. Collectively this provides banks the ability to draw lineage graphs and visually analyze the flow of information across the enterprise systems before it is reported.
ClusterSeven and PWC will discuss their firsthand experience in helping banks tackle these issues and explain several of ClusterSeven’s tools including Discovery, Spider mapping, Risk Assessments, and Inventory Management that can be used in this regard.
Key take away:
- How to approach Model Risk Governance in order to meet regulatory requirments
- Best practice on data lineage process
- Peers approach on the topic
- Market insights from the expert (PWC…)
Contact Melanie Gasperi for more information on email@example.com
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