9      Control Assessment Parameters

The maintenance has a list of seeded parameters that are dependent on the Data Quality Framework of OFSAAI. The outputs associated with these parameters are derived at the run time based on the Data Quality Profiling information within the Data Governance for APME Regulatory Reporting. The screen also enables a user to define new Assessment Parameters that can participate in the Score and Rating calculation of Assessment. The assessments for a particular control depend on the Parameter Type and Score Methodology.

User Roles and Actions

All the users are required to be mapped to the DGSAUTHGRP, DGSADMINGRP, and DGSANALYSTGRP groups along with their respective following groups.

The following is the user role for control assessment parameters:

·        DG Administration: Permits the user to view and edit the control assessment parameters.

Configuring Control Assessment Parameters

To Control the Assessment Parameters, follow these steps:

1.     From Regulatory Reporting Data Sets and Governance for Asia Pacific and Middle East Jurisdictions window navigate to Administration and select Control Assessment Parameters.

Figure 110: Administration

The Control Assessment Parameters window is displayed.

Figure 111: Control Assessment Parameters

2.     In the Controls section, to edit the Weight of the Parameters, run the Control Assessment Parameters.sql script in the Atomic Schema.

3.     The weight is altered in the Control Assessment Parameters Window.

Controls

Control is a measure taken to mitigate a regulatory reporting risk. Control Measures help an organization to avoid risks that may otherwise hamper a business due to inconsistency in reporting. Controls are defined to ensure that the data elements used for various business processes are accurate in value and obtained in time.

The controls identified for risk mitigation can be recorded and stored in a repository. This section helps in capturing Controls, and also assesses their effectiveness in avoiding the risks of reporting.

Control effectiveness establishes the confidence factor in data elements and their values.

·        Quality Controls: They are used to assess data accuracy.

Data Quality Checks and Controls

Controls are defined on data elements based on the defined Data Quality Rules. The effectiveness of these controls can be automatically assessed based on the Data Quality execution facts.

NOTE:   

To view an issue and create an action, the user must be mapped to the following issue and action groups ACTNANLST, IAVWR, ISSUEADMN, ISSUEANLST in addition to other Control related groups.

The following are the types of Data Quality Checks and their definitions:

Table 22: Data Quality Checks

The controls are specific to reports. The Data Quality is defined in the DQ_CHECK_MASTER and DQ_GROUP_MAPPING tables.

NOTE:   

The Data Quality rules are defined based on the Stage Table and Column mapped to a particular report.

User Roles and Actions

All the users are required to be mapped to DGSAUTHGRP, DGSADMINGRP, and DGSANALYSTGRP groups along with their respective individual groups.

The following is the user role for control viewer:

·        Control Viewer: Allows the user to view an issue and create an action.

Control Creation through Batches

Perform the following steps to create a Control through Batches:

1.     For control creation, the FSI_DGS_CONFIGURATION table has to be seeded first.

NOTE:   

In the N_LOOKUP_VALUE column, you can modify the values in the CREATOR and the OWNER fields.

Figure 112: Control Creation through Batches

2.     Execute the batch DGS_DQ_CTL_BATCH, this batch contains the entire task that needs to be executed for control. See the APME (APRA/RBI/MAS) Run Chart.

Quality Control Assessment

Pre-Requisites

·        For doing Control Assessment, the Control Execution Details must be present.

·        Execution Details can be Data Quality or User Defined Parameters related.

·        The Data Quality related parameters are available by default if Data Quality executions are done for that control.

Generate Assessments

Execute the batch DGS_CONTROL_BATCH, this batch has all the task which needs to be executed for control. Refer to the APME (APRA/RBI/MAS) Run Chart.

Viewing Controls

To view the controls, follow these steps:

1.     From Regulatory Reporting Data Sets and Governance for Asia Pacific and Middle East Jurisdictions window navigate to Controls.

Figure 113: Controls

2.     The Control summary window is displayed. After you execute the batch DGS_CONTROL_BATCH, the Control summary window displays the stage tables for which the controls are defined. It also displays the assessments and open issues if any.

Figure 114: Data Governance Controls

3.     Select a stage table and then click  View Controls to view the details.

4.     For example, the stage table “Stage Investment” and control “Instrument Code in Stage Investments” is selected here.

Figure 115: Data Governance Controls – Stage investments

5.     Click Properties, to view the control properties.

Figure 116: Data Governance Controls – Properties

The Control Information is displayed:

—    Name: Name of the control

—    Type: Type of Control – Quality Control

—    Methodology: Method used – OFSAA Method

—    Financial Accuracy Check: Yes or No

—    Owner: Name of the Owner

—    Comments: Add comments if any

6.     Click Data Quality, to view the Data Quality information on which the control is created.

Figure 117: Data Governance Controls – Data Quality

The Data Quality information is displayed:

—    Data Quality Name: Name of the Data Quality contributing to the control.

—    Data Quality Weight: Weight of the Data Quality contributing to the control. In case there is one Data Quality the number is 100. If there is more than one the number is divided to make it 100.

—    Attribute: Name of the attribute on the entity column where the Data Quality is defined.

—    Entity: Name of the stage table name.

7.     Click Assessments, to view the Control Assessments.

Figure 118: Data Governance Controls – Assessments

The Control Assessment information is displayed:

—    Effectiveness Score: Control Assessment Score

—    Effectiveness Rating: Control Assessment Rating. It can be Ineffective or Effective depending on the effectiveness score.

—    Effectiveness Status: Control Assessment Status

—    Execution Date: Assessment date and time

8.     Click Issues & Actions to view the system-generated issues created for control.

Figure 119: Data Governance Controls – Issues & Actions

Editing an Issue

To edit an issue, follow these steps:

1.     From Regulatory Reporting Data Sets and Governance for Asia Pacific and Middle East Jurisdictions window navigate to Controls.

2.     Select a stage table and then click  View Controls to view the details.

3.     Click Issues & Actions.
The system-generated issues for this control are displayed.

Figure 120: Data Governance Controls – Issues & Actions

4.     Click the required issue to edit.

Figure 121: Data Governance Controls – Issues & Actions

5.     You are allowed to modify the following parameters or fields:

a.     Description: Enter the description.

b.     Category: Select the Category from the drop-down list.

c.     Criticality: Select the criticality of the issue.

d.     Target Date: Select the target date from the Date Calendar.

e.     Component: Component module for which the issue is created.

f.       Owner: Name of the Owner.

g.     Status: Status of the Issue.

h.     Comments: Add comments if any for the issue.

6.     After editing the required fields, click Save.

Creating an Action

The Issue Owner creates the required Actions for the system-generated Issue; also, the Issue Owner is the Data Adjustment Creator.

To create a new action for the system generated Issue, follow these steps:

1.     From Regulatory Reporting Data Sets and Governance for Asia Pacific and Middle East Jurisdictions window navigate to Controls.

2.     Select a stage table and then click  View Controls to view the details.

3.     Click Issues & Actions. The Issus for this control is displayed with the details.

Figure 122: Data Governance Controls – Issues & Actions

4.     Click the required issue.
The Actions pane is displayed.

Figure 123: Data Governance Controls – Actions

5.     To create an action, in the Actions section click Create.

Figure 124: Data Governance Controls – New Actions

6.     Enter the Name and Description.

7.     Select the Action Type from the drop-down list:

—    Data Adjustments - Data Quality errors

—    Data Adjustments - Others

—    Data Adjustments - Regulatory Reporting

—    Reconciliation Adjustments

—    Others

8.     Select the Criticality:

—    High

—    Medium

—    Low

9.     Choose the Start Date and Target Date from the Calendar . Action Start and Target Date must be within the Issue Target Date.

10.  Select the action Owner name from the drop-down list.

11.  Select the Status from the drop-down list:

a.     New

b.     InProgress

c.     Closed

12.  Enter Comments if any and click Save. A confirmation message is displayed Action saved successfully. This creates an action for a particular issue.

NOTE:   

Based on the Action Type, the Data Adjustment Details Page is displayed during the Data Adjustments Process for Data Quality errors or any other errors.

13.  When a new action is created it is listed under the Actions Section under the New status of the Issue. In the Status field, the issue can be closed when it is resolved, it is then moved to Closed status.

Figure 125: Data Governance Controls – New Actions

14.  After an action is created, it is possible to create Data Adjustments.

Control Assessment Logic

Data Quality checks are grouped under the following types:

·        Data Quality Errors – Percentage of records that have failed the data quality checks.

·        Data Quality Warning Flag - Percentage of records that have passed but have a warning flag.

·        Data Quality Information Flags - Percentage of records that are passed but have an information flag.

·        Defaults - Percentage of records that are defaulted.

Configure the following three parameters in the DGS application to evaluate the Data Quality effectiveness:

·        Threshold Score

·        DQ Weight Percentage

·        Parameter Weight Percentage

Threshold Score

The Threshold Score is the value configured to compare with the computed Total Control Score to evaluate the effectiveness or ineffectiveness of the Data Quality Control.

Table 23: Threshold Score

DQ Weight Percentage

This value is configured based on the number of data quality checks mapped to a data quality control. For example, if there are four Data Quality Checks mapped, then the data quality weight percentage is as displayed as follows:

Table 24: DQ Weight Percentage

Parameter Weight Percentage

Data Quality Checks are tagged as Error/Warning/Information/Default and each of these is given a weightage. The values are configurable from the DGS application.

Table 25: Parameter Weight Percentage

Step 1.

Compute the DQ Failure Percentage for every single Data Quality in each Data Quality Type

DQ Failure - DQ1 Error             = (Failed Record Count/Total Scan Record)*100

DQ Failure - DQ1 Warning       = (Failed Record Count/Total Scan Record)*100

DQ Failure - DQ1 Information = (Failed Record Count/Total Scan Record)*100

DQ Failure - DQ1 Default         = (Failed Record Count/Total Scan Record)*100

Step 2.

Compute the Cumulative Control Score

Control Score is the sum of DQ Failure * Parameter Weight for a DQ for each of the DQ Type multiplied into DQ Weight Parameter, likewise, compute for each DQ mapped to a DQ control. For Cumulative Control, Score adds Control Score for each DQ in a DQ control and then divides by 100.

Cumulative Control Score =

[[DQ1 Error * Parameter Weight] + [DQ1 Warning * Parameter Weight] +

[DQ1 Info * Parameter Weight] + [DQ1 Defaults * Parameter Weight] *

DQ1 weight] +

[[DQn Error * Parameter Weight] + [DQn Warning * Parameter Weight] +

[DQn Info * Parameter Weight] + [DQn Defaults * Parameter Weight] *

DQn weight]] / 100

Step 3.

For each Data Quality control, the Total Control Score is computed as:

Total Control Score = 100 minus (Cumulative Control Score)

If the Total Control Score is equal to or above the Threshold Score, then the control is effective, and if below the Threshold Score it is Ineffective.

Data Quality Control Evaluation with GL Recon Validation

In case GL Recon Application is installed and measure data quality checks have financial validation check set as ‘Y’ then effective or ineffective evaluation is as follows:

Table 26: Data Quality Control Evaluation with GL Recon Validation

Editing an Issue

To edit an issue, follow these steps:

1.     From Financial Services Data Governance for North America Regulatory Reporting window navigate to Controls.

2.     Select a stage table and then click  View Controls to view the details.

3.     Click Issues & Actions. The system-generated issues for this control are displayed.

Figure 126: Data Governance Controls – Issues & Actions

4.     Click the required issue to edit.

Figure 127: Data Governance Controls – Issues & Actions

5.     Enter the Description.

6.     Select the Category from the drop-down list:

§       Data Authorization

§       Data Privacy

§       Data Security

§       Data Accuracy

§       Data Availability

7.     Select the Criticality:

§       High

§       Medium

§       Low

8.     Choose the Target Date from the Calendar .

9.     Enter Comments if any.

10.  Select a file or drag and drop a file to Attach a document.

11.  Click Save. A confirmation message is displayed: Issue is saved successfully. This creates an issue for the particular action.

Creating an Action

The Issue Owner creates the required Actions for the system-generated Issue. Additionally, the Issue Owner is the Data Adjustment Creator.

To create a new action for the system-generated Issue, follow these steps:

1.     From the Financial Services Data Governance Studio window, navigate to Controls.

2.     Select a stage table and then click  View Controls to view the details.

3.     Click Issues & Actions. The Issus for this control is displayed with the details.

Figure 128: Data Governance Controls – Issues & Actions

4.     Click the required issue. The Actions pane is displayed.

Figure 129: Data Governance Controls – Actions

5.     To create an action, in the Actions section click Create.

Figure 130: Data Governance Controls – New Actions

6.     Enter the Name and Description.

7.     Select the Action Type from the drop-down list:

a.     Data Adjustments - DQ errors

b.     Data Adjustments - Others

c.     Data Adjustments - Regulatory Reporting

d.     Reconciliation Adjustments

e.     Others

8.     Select the Criticality:

a.     High

b.     Medium

c.     Low

9.     Choose the Start Date and Target Date from the Calendar . Action start and target date must be within the Issue target date.

10.  Select the action Owner name from the drop-down list.

11.  Select the Status from the drop-down list:

a.     New

b.     InProgress

c.     Closed

12.  Enter Comments if any and click Save. A confirmation message is displayed: Action saved successfully. This creates an action for the particular issue.

NOTE:   

Based on the Action Type, the Data Adjustment details page is displayed during the Data Adjustments process for DQ errors or any other errors.

13.  Select a file or drag and drop a file to Attach a document.

14.  When a new action is created, it is listed under the Actions section under New status of the Issue. In the Status field, the issue can be closed when it is resolved. It is then moved to Closed status.

Figure 131: Data Governance Controls – New Actions

15.  After an action is created, it is possible to create Data Adjustments.
See section Data Adjustments for details.

User Roles and Actions

All the users are required to be mapped to the following user groups and user roles:

Table 27: User Group

Table 28: User Role