Initial Situation
A major bank in Central and Eastern Europe suffered inaccurate cost accounting data and required a newer version of OFSAA to improve P&L reporting and visibility of true profit.
Solution
Engaged to lead key aspects of implementation.
- Provided change plan and business analysis for business intelligence and data warehouse components
- Created training modules covering six areas such as master maintenance, month end processing, funds transfer pricing, cost accounting, standard unit costs and profitability management
- Provided know how transfer ensuring the understanding to the true contribution of each business unit, product and customer relationship to the bank’s overall profitability on a risk-adjusted basis
- Managed data governance and alignment with business entities and support for content related business intelligence and data warehouse questions
- Amongst with the implementation of the solution, ensured all data requirements and changes were gathered and data provided was in sufficient quality and completeness for OFSAA
- Aligned approach with relevant business departments from accounting, controlling and risk
- Identified business and data gaps against the OFSAA layer. Provide additionally required OFSAA functionalities for the group
- Transformation of the MIS OFSAA data requirements to fit into the business data structures, business data terms and business data elements modelling process, which is based on the FS-LDM (Financial Services Logical Data Model)
- Analysed the consolidated results from the data stream. Supported in the clustering and prioritization of the content
- Delivered data quality control regarding linkage between business requirements, data groups, OFSAA logical and physical data model and functionality against the future solution
- Implemented new outbound interface between OFSAA and the data warehouse.
- Transformed MIS OFSAA data requirements to fit company’s structure
- Analysed the business data modelling, business data requirements and the dimension mapping from source systems to 15 target dimensions required in OFSAA to ensure appropriate data quality, business logic and completeness regarding the OFSAA outbound interface layer and reporting
- Defined OFSAA business acceptance criteria, based on mapping towards granularity, frequency, actuality and information requirements
- Functional support in the OFSA 4.5 to the OFSAA 5.2 migration
Results
- Succeeded in enhancing use of the newer MIS as well as improving cost accounting data to support P&L reporting
- Multidimensional Management Information System at executive and group bank level
- New harmonized funds transfer pricing rules
- Increased granular view on proprietary business
- Provided better visibility on different dimensions and hierarchies
- Multi-dimensional profitability measurement on products, customers, pricing and the accountability of managers
- The bank achieved accurate and faster monthly reporting, which enabled sound business decisions on a thorough understanding of the profitability and a single point of truth, aligned with risk
