Diving Deeper

Productionizing Allowance: An Engineering Approach to an Analytical Process

Bringing production quality methods and controls to the quarterly impairment allowance created a fully compliant allowance process that reduced cycle time and resource needs by 80%.

Case Study: Bringing production quality methods and controls to the quarterly impairment allowance created a fully compliant allowance process that reduced cycle time and resource needs by 80%. Several analyst teams at a Top 10 bank spent four weeks each quarter estimating the company's consumer loan impairment allowance, which represents capital to be set aside for expected losses on the bank's $100 billion loan portfolio. Manual, spreadsheet-based processes were labor-intensive and error prone, leading to delays and reduced confidence in the results. With these issues contributing to audit findings and potentially tens of millions of dollars in excess allowance, the...

Automation of Monitoring in Field Operations and Calculating Incentives

Automation delivers higher accuracy and speed in $60 million in annual incentive payouts to telecommunication field technicians.

Case Study: Automation delivers higher accuracy and speed in $60 million in annual incentive payouts to telecommunication field technicians. Cumbersome manual processes caused errors and delays in distributing $5 million in monthly incentives at a major telecommunications firm, leaving operations field managers and technicians disappointed in an exchange that was intended to drive engagement and morale. Every month, four teams worked with multiple disparate spreadsheet tools to pull data and calculate incentives, an unwieldy and risky approach that took more than 45 days to process payments. Recognizing the need to streamline and improve this critical function, the firm turned to...

The Process Behind Process Automation

From EUCs to structured, automated data, we walk you through the process, best practices and change management to ensure you’re leveraging analysts’ skillsets to the fullest.

Summary Solution: From EUCs to structured, automated data, we walk you through the process, best practices and change management to ensure you’re leveraging analysts’ skillsets to the fullest. Since its introduction in September 1987, Excel has been the go-to resource in an analyst’s toolkit due to its versatility and capacity to quickly translate complex formulas into illustrative tables and charts. Over the ensuing years, a typical financial services analyst would build elaborate, interwoven spreadsheets, simple models, assumptions and calculations, all in Excel, creating end-user computing (EUC) applications. And while these EUCs built the foundation for modern automation, generally speaking, they...

A Case for Cloud Computing

The virtually unlimited array of tools, power and flexibility available from the cloud can solve today’s problem of siloed data management and analytical needs.

Summary Solution: The virtually unlimited array of tools, power and flexibility available from the cloud can solve today’s problem of siloed data management and analytical needs. Speaking in generalities, most financial institutions are leveraging robust legacy technologies that perform specific business functions in silos. These application systems – and the data they store – are designed for operational purposes that don’t necessarily account for downstream analytics needs. Further compounding their limited nature, the data warehousing implementations themselves are complex, time consuming and expensive. Operating in parallel to these systems are various customer-facing and departmental analytical functions that own wholly distinct...

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The Process Behind Process Automation

From EUCs to structured, automated data, we walk you through the process, best practices and change management to ensure you’re leveraging analysts’ skillsets to the fullest.

Since its introduction in September 1987, Excel has been the go-to resource in an analyst’s toolkit due to its versatility and capacity to quickly translate complex formulas into illustrative tables and charts. Over the ensuing years, a typical financial services analyst would build elaborate, interwoven spreadsheets, simple models, assumptions and calculations, all in Excel, creating end-user computing (EUC) applications. And while these EUCs built the foundation for modern automation, generally speaking, they lacked traceability or documentation, making model adjustments challenging and presenting serious challenges for governance, risk and regulatory compliance functions.