Big Data Governance and Vulnerability Management

Using FIBO Ontology based technology platform provided by our partner, Parabole, we offer our clients solutions in the areas of Data Aggregation and Governance, as well as, Regulatory Reporting.

What is FIBO Ontology?

The Financial Industry Business Ontology (FIBO)™ is a standard that provides a description and common framework for financial products, market data and related processes.
The primary application of this standard is for harmonizing the sharing of data across data repositories. This common standard supports process automation and facilitates all types of analysis and reporting.

Advanced Analytics

Using Ontology, Virtusa can provide advanced analytics to its clients on their business data and business process. Our solution can resolve many issues being faced by organizations today:
  • Empowers risk organization with near real time decision making ability – today CRO waits for months before it’s too late to take a decision
  • Enables banks to provide evidence of robust risk management practices to regulators
  • Allows banks to build an enterprise knowledge base which can be used for any kind of advanced data analysis in future
  • Reduces dependence on expensive external consultants and contractors
  • Select areas of usage include:
  • Credit Risk Analytics
  • Consumer and Commercial lending data analytics
  • Impact analysis on the enterprise using a what-if scenarios
  • Knowledge management


  • Quick data aggregation with total traceability of data
  • No programming required for ad hoc reports, business users can create their own reports
  • No physical replication of data
  • Visual data structuring
  • Complete transparency to regulators on the business process.
  • Near real time data sourcing for Ad-hoc reports

IHC Requirements

As part of the Dodd-Frank Act the Federal Reserve is requiring foreign bank entities, with $50 billion or more in assets, operating in the U.S. to create an intermediate holding company (IHC). This newly created IHC will be subject to all U.S. Basel III, Dodd-Frank 165 stress testing, liquidity, risk management and capital requirements.
Virtusa can assist with the challenges of Complexity and faced by these entities:
  • ICH Project Governance
  • Accounting/GL Integration
  • Data Aggregation &Traceability
  • OFSAA/Axiom Integration
  • Regulatory Reporting
Virtusa can assist with the creation of the IHC in an efficient manner from a business process, operations, capital, funding, liquidity and risk management perspective.

Key Compliance Dates

  • 1/1/2015: Any U.S. based Foreign Bank entity must provide the Federal Reserve an IHC implementation plan for review
  • 7/1/2016: The IHC entity must be established and compliant under the regulations.