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DQRM: Data Quality Risk Management
Alongside the classic analysis and in-depth activities related to the governance of risk assessment and control processes, there are particular investigation domains that make it necessary to carry out specific data quality activities to be included in the wider domain of risk management and risk governance. Among these, the analysis of guarantees operating in the field of real estate assets is particularly important.
In order to facilitate the performance of data quality checks, RED provides a special Data Quality Risk Management suite (hereinafter: DQRM) aimed at:
- Acquire “as-is” third party information
- Define a set of data quality rules customizable by defining sql (server query language) scripts
- Establish conditions for the execution of data quality checks according to the requirements of applicability
- Consult through web pages the data with evidence of data quality results
- Generate general and detailed reports with evidence of anomalies resulting from data quality (data not reflecting the requirements)
Through this monitoring dashboard, the Risk Manager and his collaborators have the possibility to accurately “intercept” anomalies deriving from data entry errors, in synchronicity between data or – above all – circumstantial actions that allow to become aware of the existence of a real materialization of risks (for example, the presence of Not Performing Loan on the basis of specific controls and customizable calculation algorithms).