A leading global insurer needed enhanced visibility into its Governance, Risk, and Compliance (GRC) data, specifically focusing on Critical Data Elements (CDEs) used across its GRC platform. For insurance and financial services organizations, maintaining accurate, reliable CDEs is essential to meet regulatory requirements. These sectors are subject to strict rules for data accuracy, data governance, and risk management. Regulators demand clear evidence of how key data elements are used, controlled, and reported, and any errors can lead to compliance violations and financial penalties.
The client faced several challenges:
- Limited visibility into how CDEs were being used across workflows, objects, and views within the GRC system.
- Difficulty tracking which fields were most critical for compliance and risk management.
- Complex user profile configurations made it hard to determine which users had access to specific data elements.
- Manual reporting processes were time-consuming, error-prone, and lacked transparency.
The client needed a solution to generate a real-time CDE report, providing comprehensive insights into data usage, access, and dependencies, while ensuring compliance with regulatory expectations.
Our Solution
SureStep was engaged to design and implement a robust CDE reporting solution using IBM Cognos, seamlessly integrated with the client’s existing GRC platform. Our approach included:
- Conducting a detailed assessment of the GRC platform, examining workflows, object structures, field mappings, view definitions, and user profiles.
- Designing a scalable, automated CDE reporting solution in IBM Cognos, providing real-time insights without manual effort.
- Configuring the report to dynamically identify and display CDEs across all modules, highlighting their usage, access, and dependencies.
- Ensuring data security by integrating user profile data, allowing the client to see which users had access to each CDE.
- Providing training and documentation to ensure that client teams could efficiently use the CDE report.
Results Achieved
- A fully automated, real-time CDE report in IBM Cognos, providing instant insights into GRC data usage.
- Enhanced data governance, with clear visibility into workflow configurations, field usage, and user access.
- Streamlined compliance reporting, reducing the time required to identify and monitor CDEs.
- A scalable reporting solution, capable of adapting as the GRC platform evolved.
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