Case Study
UK investment bank – regulatory reporting test strategy and execution
Testing | Banks | London
The Background
- UK Bank with multiple legal entities and issues with timely and accurate regulatory reporting
The Challenge
- Transformation programme to:
-Validate and enhance existing data sources (including multiple equities, fixed income and FX order management systems)
-Consolidate and standardise trade output files to improve data accuracy and availability
-Enhance the control environment (policies, interpretations, procedures) - Technology and test teams not geared towards complex and large-scale change
- Increasing delivery risk with delays to key test deliverables
The Approach
- Appointment of a team of 3 consultants to support incumbent test team over a period of 12 months
- Definition of a best-fit data-focused test strategy workable within the environmental constraints and tight timelines
- Test management, build and execution activity for testing (SIT, UAT, NFT, Parallel Run); including test representation at project steering committee
- Spot checks on the trade output files against source systems – with increased focus on calculations and derived values
- Provision of early confidence in custom ETL scripts - including validation of transformation logic, bespoke data feeds, data warehouse,and target data model (SQL)
- Validation of real-time and high-volume (non-functional) requirements,
- Establishment of an appropriate test governance and control framework – including automated status reporting and risk and issue management
The Impact
- Consolidated multi-asset regulatory reporting platform (EMIR, MiFID, Basel) delivered on time
- Scheduled go-live achieved with all critical issues being identified and resolved
- Identification of data gaps with actionable path to resolution
- Maintenance of requirements traceability (Jira and Xray) throughout the test lifecycle
- Improved visibility, communication and stakeholder management across the organisation
- Ongoing engineering performance monitoring incorporating tracked KPIs/SLAs
- Handover of repeatable test process to internal team for future phases
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