5 STEPS TO GREAT COMPLIANCE DATA GOVERNANCE

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It is no secret that many financial firms are facing significant issues with their data when it comes to performing compliance functions like trade reconstructions.

Frequently, when reconstructing the conditions surrounding a trade or order, compliance teams struggle to locate the data requested by the regulator. Internal data often sits in silos and can be difficult to track down. External data can be even more challenging. 

The second challenge is larger – ensuring the data is high quality, accurate and valid. Data quality issues have become significant - with poor quality of transaction reporting data being highlighted by regulators on a frequent basis.

So, what can be done to improve data governance for enhanced compliance? There are 5 main steps to great Compliance Data Governance which we have highlighted in this e-book.

Good compliance data governance, including data quality and data lineage, is now essential for all compliance obligations.

SMARTER COMPLIANCE

SteelEye's comprehensive RegTech suite helps firms, large and small, to meet their regulatory obligations through a single, holistic solution. The data platform seamlessly captures all of your structured and unstructured data across any asset-class, communication type and system – unifying it under a single lens, where it is cleansed, normalised, indexed and made instantly retrievable. The platform thereafter looks at any given scenario or piece of data and simultaneously brings together all information that is deemed to be relevant, such as relating communications or transactions as well as independent pricing. By doing so, SteelEye ensures great compliance data governance.

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"We selected SteelEye because of the quality of their technology, the regulatory expertise demonstrated by their team and their willingness to support our tight implementation timelines.”

KEITH FRIMPONG, GLOBAL HEAD OF OPERATIONS CHANGE, SCHRODERS

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