Risk Dynamics support clients in building strong data foundations

Our dedicated experts, proprietary tools and frameworks help clients build their data capabilities in risk and financial management, while also mitigating data-related risks.

What we do?

We help organizations define their data strategy for supporting risk and financial management, lay out roadmaps, and rapidly implement our recommendations. We enable financial institutions to comply with relevant data regulations and to create value for their business in the process. We also support companies in mitigating new risks associated with data and in developing their data ethics strategies.

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Our impact

Risk Dynamics has enabled hundreds of banks to meet complex regulatory requirements, including the Basel Committee on Banking Supervision 239, the Global Data Protection Regulation, and the California Consumer Privacy Act. We help clients fulfill data privacy requirements; improve their data quality to comply with other regulations, such as stress-testing or liquidity requirements; and capture value from their data, including cost efficiencies and revenue enablement.

Case studies

  • Improving data architecture to comply with BCBS 239

    The requirements set by the Basel Committee on Banking Supervision (BCBS) 239 have put many banks under constant pressure to enhance their risk data and reporting capabilities. A global US bank had a highly fragmented risk data architecture that included over 1,000 data repositories and cumbersome data controls.

    To improve this architecture, we worked alongside the bank’s chief data officer to establish a new data strategy. The effort involved setting up “golden sources” of data that were aligned with fewer data domains, developing a three-year roadmap to rationalize and rewire data feeds across the organization, and decommissioning redundant data repositories. The bank not only has successfully met BCBS 239 expectations, but has also significantly reduced its technology costs (removing several hundred million dollars of redundancy) and leveraged its newly created capabilities to accelerate business analytics.

  • Developing a data control framework

    Increasingly, institutions must spend time and effort to deploy data controls such as data dictionaries, data quality-checks, data lineage, confidentiality and privacy restriction to name just a few. These efforts often require significant manual labor and tend to be unsustainable over time.

    A regional US bank wanted to build regulatory confidence that it could appropriately control its data across the full data flow - from data capture to data aggregation and reporting. Risk Dynamics supported the bank in developing a data control framework, including a clear risk taxonomy related to data and a well-defined control taxonomy. We helped to define a prioritized scope by selecting 25 key reports and establishing a framework for prioritizing only the most critical data elements. As a result, the bank received positive feedback from regulators.