Platform Overview

ControllerView (CV) delivers data lineage, risk aggregation, workflow automation, validation and audit functionality and supports disclosures in multiple formats, including XBRL. These features support data and process governance and seamlessly integrate clients’ source data from disparate systems and geographical locations without forcing data conversion. The high-performance platform transparently aggregates clients’ data from multiple siloed systems, enriches and validates it to any level of granularity, and then runs the data through relevant calculations and populates the reports.

  • Customizable data storage allows data to be maintained internally or loaded from an external source
  • Flexible architecture adapts to changes across institutions, geographies and jurisdictions without systems re-engineering, reducing implementation times
  • Improved transparency through drill-down capabilities supports instant verification of aggregate numbers down to individual accounts
  • Preview of results enables to analyze and adjust reported facts to ensure accuracy prior to submission

  • Automates complex workflow process enabling users to review results and ensure accuracy
  • Delivers global coverage of reporting templates with timely update services
  • Provides comprehensive views of financial information on entity and consolidated levels
  • Enables business users to analyze each report on-screen line by line, providing comprehensive transparency
  • Aggregates data to view detail by any grouping criteria, such as Branch, GL accounts, etc. Allowing to view data on transactional trade or positional level at any point of the analysis
  • Delivers transactional level disaggregation, allowing users to drill-down into the data at any level of granularity
  • Multi-level sign off - hierarchies can be defined with automated alerts to the next level after signing off

ControllerView can handle the flow of information particular to a client's organization, such as specific Key Risk Indicators (KRIs), syntaxes, data taxonomies and process operating models. Further, as demands like BCBS 239 require near-constant fine-tuning to address data governance, Controller View’s Visual Business Rules enable adjustments to regulatory and management changes with its out-of-the-box configurability and slice-and dice of data.

Visual Business Rules - Tool for handling ongoing change in regulation or business requirements without the need for programming expertise. AxiomSL's, pioneering visual data modelling and business rules tool, enables users to make even the most complex adjustments to processes in response to changes.

The increased volume and granularity of data needed to support risk aggregation as well as greater frequency of reporting means that workflow automation is a necessity. ControllerView automates analytics and reporting workflow end-to-end, including all data collection, enrichment, and management, as well as all calculations, processes to final report submission.

All data, calculations and other processes defined for one purpose are stored and can be reused wherever required to address new regulations and internal management reporting. It ensures consistency, reduces total cost of ownership (TCO) and accelerates responsiveness.

Every step in the data collection, enrichment and consolidation is tracked and recorded, including all comments. This enables FIs to drill down from any output to the underlying data and processes involved in creating this output. This entire process can be viewed by regulators and internal and external auditors.

AxiomSL’s agnostic data-driven platform retraces the journey of the source data through every single workflow processes or calculations across siloes systems all the way to disclosures.

AxiomSL | Dynamic Data WarehouseTM & Integration CenterTM

DDW and IntegrationCenter in conjunction with ControllerView deliver the foundation to ensure data accuracy, data completeness, data lineage and adaptability that enable banks to meet stringent requirements on risk data aggregation and reporting. AxiomSL’s data governance functionality provides the necessary data granularity across multiple business functions. AxiomSL’s platform creates a collaborative environment among risk, finance, operations and compliance entities to manage the granularity attributes and deliver high standard of data quality.

Web browser dashboards can be used to present information and manage processes, such as analysis, drill down and sign-off.

Supported for all regulators globally in all required formats, including XBRL, XML or other file-based electronic submission. Will also connect directly to regulators' web services where available for submissions.

Multiple report writers allow users to review reports in various formats before submission, with the ability to drill down and make manual adjustments where necessary.

Scalable and resilient architecture can handle all volume and performance demands. Reports can be produced at any time interval to meet internal and external requirements.

The ability to define granular data and process permissions for hundreds of users provide a completely controlled and secure environment.

Basel III, Liquidity, BCBS239, Dodd Frank, FATCA/CRS, EMIR, MiFID, MAS, etc.

New reporting requirements imposed upon financial institutions in recent years mean heavier performance needs for certain workflows. Though simple business rules can still be executed efficiently using traditional database engines, in-memory execution is better suited to the complex logic and larger reports produced by running databases queries—sometimes hundreds or even thousands of them—in parallel. Therefore, AxiomSL can now bake this logic in directly on the application server-side.

With task manipulation, enrichment and annotation all occurring in-memory, banks benefit from significant performance gains. Additionally, AxiomSL’s adjustable workflow parameters mean in-memory execution can be utilized as needed, essentially switched on or off when tasks with simpler logic are reverted back to completion via conventional database. The result is an intelligent approach to task execution that meets the complexity of today’s reporting requirements, applying higher-performance technology where it is needed most.

AxiomSL’s Clustering option, like in-memory execution, recognizes financial institutions’ need for stronger, targeted compute power and by deploying nodal clusters, this is achieved with horizontal scalability. Today’s regulatory environment requires firms to regularly run multiple reports simultaneously. This is not only a challenge of execution complexity but also of managing load, and performance will lapse without a strategy to distribute these larger tasks.

Clustering allows systems to offload in-memory executable tasks to auxiliary nodes, relieving this pressure by distributing them horizontally. While this may seem straightforward, the subtlety lies in deciding system dynamics. Partnering with AxiomSL, firms can gather the necessary statistics to parameterize when and how task offloading should take place, and the relationship between the master node and the clusters that best maximizes system efficiency.

Customizable user interface (UI) has grown in importance as data management and governance have become less a province of technology and compliance units over time, and are now exposed to a wider array of enterprise-wide personnel. AxiomSL’s new UI dashboard toolkit provides users tools with this sophistication in mind, allowing users greater flexibility to tailor their presentation layer and scheme to business logic in a way that cookie-cutter libraries cannot.

Besides being more role-specific and also more secure, AxiomSL’s new user dashboards provide a higher level of interaction. Designed to be bidirectional, they offer new elements that can “listen” to system events as subscribed to directly by the user, as well as present more static objects and information. These upgrades are in keeping with AxiomSL’s core proposition: providing greater flexibility.

AxiomSL aims to for script-level compatibility wherever possible, and while the use of R isn’t new, its prevalence continues to increase for complex statistical compilations, building time series, and other quantitative analysis activities at major banks and financial institutions. As a result, the AxiomSL platform provides full support for lifting data from our platform into R, directly and without any need for translation.

Industry initiatives such as BCBS 239 have pushed data lineage to the fore. Whereas this area was concerned primarily with the back office and auditing, data lineage has now moved forward to front-office end-users, who require access to granular details about data flow and governance rules without being overwhelmed. Meanwhile, regulatory bodies have begun more closely examining metadata as well.

Very few data governance tools have historically achieved such a balance of drill-down capability, documentation and filtering, and AxiomSL has taken a leadership role in defining and building the necessary components—from enterprise-level frameworks and solutions down to a number of data adapters including one developed in partnership with IBM’s IGC—to solve this puzzle as expectations continue to evolve over time.

Solution Overview
AxiomSL’s platform consolidates data from modern and legacy systems by enriching data taxonomies and metadata across the organization. As data is integrated, traceability of the enriched data and workflows is transparent since AxiomSL retains the identity of each source, thus allowing full visibility on ongoing changes and their impacts.

Data lineage is quickly becoming a topline concern and challenge for data managers in financial services. In the past, data lineage—generation of a trail of information that tracks the use and custody of data as it travels throughout the enterprise—was primarily a concern for niche internal projects, usually run by reporting teams. A combination of closer oversight by prudential regulators and rising global standards around data governance, itself, has rapidly led many financial institutions to become more interested in how to do this on a broader level.

AxiomSL’s solution is designed to meet key requirements at once: technical flexibility combined with tailored outputs and visualization. In fact, AxiomSL’s lineage tool brings business and technology users together and provides the answers to the following questions:

  • Which data sources are used in the generation of a report or reporting line?
  • What data transformations and business logic is applied to populate a reporting line/cell?
  • Can I perform search to see where in the code a data attribute is used example a general ledger account?
  • Can I export data lineage information in a readable and printable format to share with team members, keep track of business logic updates between different reporting cycles and for audit?
  • Can I get the list of all different reports that utilize a data source?
  • What will be the impact of updating or decommissioning a data attribute?

What makes AxiomSL’s solution unique is the understanding that data lineage metadata must be available, portable, and presented in user-specific ways. Part of the strength in this area is that, unlike many alternative choices that are just beginning to ramp up data lineage now, AxiomSL has emphasized this area for a long time. As a result, the solution is the most flexible and configurable available with numerous benefits.

Key Benefits:

  • Data-lineage tool captures and documents data flows and business logic from the point of data entry to the final report
  • Empowers the “business user” to make critical decisions with trust and confidence in information
  • Enhances collaboration across all business functions and IT
  • Reduces cycles spent across teams validating data accuracy
  • Understand quickly where information originates and Improve data governance
  • Become BCBS 239 compliant quickly and cost effectively without disrupting firms’ existing infrastructure

Additional advantages of AxiomSL’s platform include:

Data integration: AxiomSL’s platform allows firms to achieve data integration without that risk of disruption or sunken cost.

Workflow Automation: Leveraging AxiomSL’s data governance platform allows banks to build the level of sophistication for today’s requirements and future needs.

Change Management Tracking: BCBS 239 is very strong on documenting change, from cell-level adjustments to SQL edits. AxiomSL’s platform automatically populates and archives these respective changes as they happen.

Validation and Exceptions: Firms partnering with AxiomSL can build business-level and validation rules using the platform to enable drill-down and traceability into risk data subsets and associated metadata, while also flagging and documenting potential exceptions for review.


AxiomSL has extended its fully integrated data management and regulatory reporting platform to support XBRL taxonomy management and submission, and it easily adapts to XBRL taxonomy requirements across multiple countries.

AxiomSL’s out-of-the-box XBRL reporting solution enables financial institutions to leverage their existing infrastructures to quickly become compliant with the new capital (COREP), financial (FINREP) and liquidity (LCR and NSFR) disclosure requirements, by embedding all of the XBRL ‘behind the scenes’. As a result, users focus in on results rather than having to understand XBRL itself. This investment moves AxiomSL from a first-generation report and tagging solution to a second-generation taxonomy management and submission platform.

AxiomSL’s sophisticated XBRL functionality also gives users the ability to access multiple iterations of the same taxonomy. This is particularly important as reporting requirements evolve and market participants are obliged to resubmit reports using earlier XBRL taxonomy versions.

AxiomSL’s cutting-edge XBRL tagging approach is a powerful solution, as it accelerates regulatory submission processes and increases data integrity while delivering transparency, audit and validation of the results. This seamless XBRL integration provides significant cost savings stemming from greater process efficiencies and automation of manual reporting processes – allowing organizations to access a multitude of business information data from a full range of disparate applications and systems across the supply chain.

AxiomSL’s comprehensive XBRL solution is built on our proven data-management and regulatory reporting platform and includes all the critical features required for controlled reporting:

  • Submission management and business sign-off;
  • Seamless XBRL taxonomy importing and versioning;
  • Data integrity verification and drill down capabilities;
  • Multi-dimensional visualization of the XBRL submission instance for internal reporting;
  • Flexible data sourcing strategy included with new XBRL functionality.

Financial institutions across the world are seeking a single platform for XBRL reporting needs as opposed to disparate systems across each region. The move to common reporting in Europe presents firms with an opportunity to reduce compliance costs by moving to a single platform for all of their reporting and calculation needs.

Firms can now benefit from AxiomSL’s strategic vision, by providing one platform that covers any regional or national disclosures, both XBRL and non-XBRL. Institutions in EMEA and APAC are initially utilizing AxiomSL to meet their COREP, FINREP, LCR and NSFR reporting obligations as part of the Capital Requirements Directive (CRD) IV, but they are also looking to leverage the platform for IFRS, Solvency II or any other XBRL reporting need.

As the regulatory landscape in the financial sector continues to evolve, momentum has been building towards a single electronic financial reporting standard which would allow for more efficient retrieval and processing of financial information. XBRL, an open and global technology standard used for the electronic communication of financial data, is revolutionizing business reporting. The impact of XBRL on global financial reporting and data exchange has been compared to the impact of bar-coding on merchandising.

Regulators will have far more power and control over data in the coming years as XBRL enhances dramatically the capabilities of regulators to analyse, compare and validate financial data. AxiomSL’s robust and flexible platform supports customisation, extension and the ability to tag at the data source and reuse the validated financial results for other reports.

“AxiomSL’s unique enterprise-wide reporting platform combined with its innovative XBRL technology not only enables financial institutions to streamline financial reporting processes by improving data integrity, transparency, traceability for audit and verification purposes but provides the foundation to support any other taxonomy requirements worldwide,” said Alex Tsigutkin, CEO, AxiomSL. “AxiomSL’s commitment to lead through both best practices and the ease of implementing regulatory reporting solutions across multiple jurisdictions via one integrated platform remain our top priorities as demonstrated by winning the Customer Satisfaction in RiskTech100® 2014 Award.”

Ongoing rapid regulatory change and a complex market dynamic present significant challenges for financial institutions' operating models, analytics and reporting capabilities. As regulators begin to export compliance regulatory requirements downstream to smaller banks as well as buy side firms, these entities will be keenly scrutinizing the pioneering risk data aggregation and integration processes as potential best-practices that can be scaled to their sizes and adapted to specific jurisdictions’ regulatory requirements.


ControllerView Data Flow Diagram

img-Regulatory-Reporting-Diagram

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Awards


 
Asian Banker Award – Risk Management Awards 2016
Waters Rankings – Best Reporting System Provider
Waters Rankings – Best Reporting System Provider
RiskTech 100 2014 Category Winner Customer Satisfaction