Controls are all about timely access to the right data which makes this a perfect use for our Fusion Technology. We have adapted our toolset to create a product which provides a query-based approach to control reporting unlike current controls which are mostly “after the fact”
Using automated high performance queries facilitates a more flexible view of control breaks immediately after they happen. This approach enables real time controls which monitor the process rather not the measuring business outcomes after the fact.
Controls Dashboard – with many disparate controls spread across different divisions and legal entities, monitoring the health of the organisation poses a real challenge. Our high-performance query-based approach can provide senior management with a "live" controls dashboard with full drill down capabilities; always at hand through mobile platforms.
Reconciliation Tool - ControlFusion can query across trades/positions which appear in multiple systems, functions and legal entities across an organisation and generate a "live" reconciliation between them. BCBS239 specifically states that risk information needs to be consistent with information from both front office systems and Finance systems and this demands a trade level reconciliation between them. Due to performance and capacity limitations, most current systems utilise aggregated date in both Finance and Risk systems. This aggregation, often into incoherent buckets, requires frequent manual analysis and adjustment because there is no traceability back to the source trades. Control Fusion provides full trade level transparency with complete lineage to provide continuous data reconciliation and accurately pinpoint any breaks.
Compliance Monitoring – In addition to accepting alerts from internal monitoring, DataFusion technology can join this with disparate data sourced from any system across the organisation and beyond. By coding in proven compliance rules, ControlFusion can be developed from a health monitoring system into a sophisticated system capable of real-time elimination of false positives. The further addition of FusionChain enables the remaining exceptions to be handled in the proscribed manner.