CREFC Compliance - Financial (Secondary Mortgage Leader)

Goal:

CREFC compliance and transition to Target State architecture.

Problem:

Several teams working in silo’s, disparate versions of “gold copy”, numerous EUC’s including spreadsheets and Access databases leading to operational complexity, repeat work, inaccurate deliverables, slippage in timelines, increased cost and maintenance.

Solution

• Assessed current state, identified people, process, and technology issues, and recommended solution.

• Processed over 30,000 changes in one year on a near real time basis with zero margin for error.

• Trusted source for Disclosure Business Glossary/ Data Dictionary

• Includes source, target Mappings, derivation logic, derived-base relationships, etc.

• Built-in data quality checks, provides platform for generating test data

• Eliminated numerous databases and spreadsheets. Consolidated all metadata in one custom built metadata application. Presented benefits and advantages to C level.

Solution included collaborating with business and technology users, building a custom application that stored all metadata and produced deliverables accurately and quickly. The solution became the “single source of truth” for Compliance and Target State related initiatives.

Cross functional teams from Business and Technology rely on this tool for their day to day work, reporting, and analysis.

Feeds DOORS on weekly basis which in turn is consumed by Technology and other stakeholders.