As a systemically important bank (SIB), NORD/LB houses massive amounts of data related to business (e.g., several reporting systems) and IT (e.g., millions of tables and fields contained in databases) and has long-required solutions for governing that data.
When NORD/LB was faced with a new regulation in 2015—the Basel Committee on Banking Supervision’s regulation number 239 (BCBS 239)—the bank needed to quickly enhance its data governance strategy. BCBS 239 necessitated proof of risk data aggregation capabilities and internal risk reporting practices to bolster overall risk management. To comply with BCBS 239, NORD/LB sought a solution that would enable more comprehensive documentation of the bank’s most important critical data elements (CDEs); risk data aggregation processes (especially for new staff); and the flow of data and metadata within the bank’s IT architecture.
NORD/LB elected to use the Rocket® Data Intelligence solution to meet the demands of BCBS 239. Leveraging Rocket Enterprise Data Intelligence expanded its capabilities by providing data quality management, enterprise data dictionary, business intelligence, enterprise metadata management, and most importantly, data lineage. These functionalities would be critical for providing NORD/ LB with the data visibility and governance capabilities needed to comply with regulations.
- Visibility: Completed documentation of its glossaries, bank auxiliaries, and critical data to show regulatory authorities.
- Time Savings: Data Intelligence made preparing for compliance audits easier, reducing the time needed by as much as 3-4 weeks.
- Productivity: Applying Data Intelligence to the compliance process freed up employees to focus on more strategic work.
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Once the solution was implemented and tested, Rocket Software made sure NORD/LB stakeholders were trained on DI so they could use it to its full potential.