Addressing the data aspects of compliance with industry models

• Authors: M. Delbaere;R. Ferreira
• Venue: IBM Systems Journal
• Year: 2007

A fundamental aspect of compliance involves the capability to produce business reports which constitute adequate audit and control records. This presents two significant challenges. Very often, international and government regulators do not coordinate their policies, creating a great deal of overhead for the implementing organizations, particularly those represented in multiple geographical areas. In addition, the information required to produce these reports may be in inconsistent formats throughout the enterprise or unavailable at the right level of detail. To overcome these challenges, organizations need to develop an enterprise-wide data architecture that enables the consolidation of regulatory reporting requirements and the integration of data from different business areas. The definition of data standards and the use of common data-modeling techniques throughout the enterprise can assist in this effort. IBM has developed a series of industry models that address these challenges based on the principles of data warehousing and business intelligence. This paper describes in detail the technical and business challenges of information management in the context of compliance and presents a few practical examples of how customers in the financial services industry have addressed compliance requirements such as Basel II and Solvency II by using enterprise-wide information management approaches based on industry models and related technology.