Recently, I had a Siebel Clinical Trial Management System (CTMS) client requirement to load data into the database, clearly the purview of Siebel Enterprise Integration Manager (EIM). The client sent me the data in a spreadsheet, and it looked something like this: Site_Number Contact_ID Role 800,1,300,500 1-2ASW Pharmacist 6,7,2 1-4RSW Doctor 1,2,4,6,7,8 1-5E33 Lead CRA […]
Operations
Data Quality Improvement is Key to Successful Data Governance
The goal of any data quality program is to improve quality of data at the source. Once a financial institution’s data lineage capabilities are in place, a key starting point for data quality initiatives is the confirmation of critical data attributes for each major business line and functional area. The data quality program should define […]
Implementing a CECL Response Program
Organizations will need to modify or redesign their loss reserve processes and systems based on the new CECL standard in light of the substantive changes in methodology. As CECL requires a forecast of loan losses over the life of the instrument, both at the time of origination as well as the revaluation on an ongoing […]
Financial Statements and Disclosures under CECL
Entities must first include the new CECL disclosures in their financial statements and regulatory reports (e.g., the quarterly call report), commencing with the aforementioned effective dates. There is no separate filing requirement for CECL. The structure and granularity of an entity’s income statement and balance sheet does not to change, as the details of the […]
What Remote Sellers Should Know About South Dakota v. Wayfair, Inc.
Editor’s Note: This guest blog post comes courtesy of Gail Cole with Avalara. The U.S. Supreme Court’s decision in South Dakota v. Wayfair, Inc. is a game changer for online sellers and other businesses that sell across state lines. A state can only tax a business that has nexus, a significant connection to the state. For decades, nexus […]
Establish Formal Data Contracts Between Data Owners and Consumers
A final capability that is emerging is the establishment of formal data contracts between data owners and data consumers and integrates each of the key capabilities described in our previous blogs. A data contract is an agreement that specifies data owner accountability regarding data delivery acceptability levels, as well as the consequences and expectations for […]
Old Problem – New Context – Business to IT Translation
In today’s world of “Cloud Everything” using “Hyper Everything” we still see an old problem creating challenges. Most IT organizations are still struggling to translate business requirements into technology requirements. Cloud has allowed us to simply accelerate the process of seeing the disconnect. I had the opportunity to hear about this experience from one of […]
CECL Model Alternatives
CECL requires loss estimates to include relevant information about past events, current condition and reasonable and supportable forecasts using both internal and external information, including a range of qualitative and quantitative factors. Estimates of expected credit losses must consider information related to the borrower’s creditworthiness, the issuer’s underwriting practices, and the current and forecasted direction […]
Visibility and Value in the Healthcare Performance
Healthcare practitioners must untangle the complex relationship of data analytics in order to provide a proper value for patients. Visibility To ensure that patients receive the best care possible, healthcare teams must continuously monitor the performance of the healthcare facility and the daily operations. With open visibility, practitioners establish a sense of trust and with […]
The New CECL Accounting Standard
CECL, or current expected credit loss, is a new accounting standard that will change how financial institutions account for expected credit losses. Complying with the new CECL standard will have a major impact on an institutions’ operations, accounting/finance, IT, credit, and risk processes and systems. Under current US GAAP (generally accepted accounting principles), an “incurred […]
Driving Better Decisions with Data Governance
The business capabilities presented in our new guide demonstrates how forward-thinking financial services companies are leveraging data governance to create value for the enterprise. Accurate and timely information continues to be a key driver of enabling better decision making. Capabilities such as data principles and strategy, data architecture, organizational roles, authoritative sources, data lineage, data […]
Key Takeaways About Compliant IT Systems In The Cloud
This is the final post in our series on maintaining regulatory-compliant IT systems in the cloud. In this post, we’ll go over the key takeaways from the series and then we’ll send you on your way! Regardless of how much control you have over your IT systems, if you are using them for regulatory purposes, […]