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?
- 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
- ICH Project Governance
- Accounting/GL Integration
- Data Aggregation &Traceability
- OFSAA/Axiom Integration
- Regulatory Reporting
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.
- Risk- Based Decision Making: The MetricStream’s GRC framework for financial services allows for efficient risk-based decision making and provides a streamlined process for evaluating opportunities for your organization.
- Risk-Return Portfolios: The MetricStream’s GRC platform provides the organization the ability to improve business decisions and the ability to manage based on impact and probability of risk relative to potential return.
- Risk Awareness: Implementation of the MetricStream’s integrated GRC platform, in conjunction with related risk management activities, augments a necessary cultural shift needed in any financial services organization. This enhances the ability of the organization to have the capacity and tools to be innovative while recognizing and respecting the need to be prudent in protecting its interest.
- Organizational Efficiency: The implementation of the MetricStream’s integrated GRC improves efficiency across the entire organization by providing the coordination required to make the business functions of an organization work more efficiently. The integrated approach that is maintained using the platform is better to address the both individual risks and the interdependencies between these risks.