A global bank
Normalising processes, building a dashboard to ensure accurate reconciliations and deliver robust reporting
To strengthen reporting, a global bank needed a unified, cohesive process and overarching central engine to perform automated, accurate reconciliations between front, middle and back office systems. 100+ existing systems and processes were in place, with an equivalent number of reports and inaccuracies. The enterprise data warehouse team also lacked the capacity to build the logic into their workflow, and the cost was prohibitive.
Calibrate embarked on a normalisation process to ensure that all data and structures were labelled consistently. To avoid the time and cost-intensive endeavour of rebuilding the entire pipeline, we built on an extra layer to capture all trades flowing through the original process. A matching engine was designed, with a key that allocated unique identifiers to trades, which were aligned with the front office and mapped to the back office — highlighting any breaks.
Calibrate built a multi-tiered suite of applications to extract relevant data from disparate systems. Myriad feeds were normalised in the process, ensuring efficiency and consistency, and the dashboard allowed in-depth analysis and the ability to flag breaks clearly and swiftly. The application was used by operations and product-control staff, significantly reducing time and costs and optimising the bank’s risk-management strategy.