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Flexible, effective data solutions

Regulatory reporting and operational tools

A past business review enforced by the FCA meant the client needed to deploy a team of contractor case reviewers to assess the suitability of recommendations made to financial planning customers. The project ran in stages, each time constrained and requiring data suitable for detailed reporting and root cause analysis in order to identify the scope of any subsequent remediation activity.

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Financial Services
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The problem

Starting from scratch

The nature of the activity being reviewed meant that there was no single system suitable for recording the progress and outcome of reviews. Spreadsheets were being used to manage case allocation, completion and outcome. Shared spreadsheets soon became unstable and subject to input error affecting the production of timely, accurate reporting but also the ability of case reviewers to complete the work assigned to them.

Central IT could only offer limited resource as the relatively short term nature of the project meant it competed with strategic project work.

Buying in an external case management system was not practical as the dynamic nature of the project meant fixed requirements could not be provided.

A solution managed and run by the operation was needed to ensure the review was kept on track. 

What we did

Responsive and flexible

A Fidabona consultant led a team of contract MI Developers and Analysts responsible for the development of case management tools, data quality and management information.

This team produced daily, weekly and monthly reporting for around 7 distinct stakeholder groups including the Executive, regulator and external audit.

The data feeding this reporting was gathered in case management tools built by the team in a way to allow short change cycles.

This work included two large data migrations and numerous rebuilds to account for changing processes.

The work required at least monthly imports of data regarding affected cases to be worked from a central data warehouse including: cleanse and data quality checks, data transformation for load into case management systems and extract back to the data warehouse in their requested format.

Over time, the scale of the data being managed and reported on went from less than a hundred fields about less than thousand cases to over 4500 fields concerning hundreds of thousands of cases.

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The value we added

Quality when it matters

The importance of the review to the client’s relationship with its customers and the regulator meant the review had to be completed in a timely manner with robust assurance the right outcomes had been achieved for affected customers.

The strategy devised and implemented by Fidbona’s consultant ensured robust tools were developed and maintained to support rapidly changing processes, data quality was protected and reporting and root cause analysis were available to meet the needs of multiple stakeholders.

These enabled the project to be completed within the timescales agreed with the regulator and to its satisfaction while ensuring processes ran smoothly, controlling the costs of contract reviewers and the software tools needed to support their work.

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