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Regulatory Data Quality Control Framework 1

Summary

Design and implementation of a comprehensive operational data quality control framework across branch office and head office underwriting and claims functions for a major international insurer.

Challenge

This market leading insurer needed to respond to regulatory demands for greater controls over processes impacting data quality, but didn’t have an approach or method.

Approach

Stratiformis led a team to respond to the need for regulatory compliance with the Lloyd’s Control Framework. By identifying the current state process and control situation we mapped the regulatory demands onto the organisation to determine the scope. We created an ‘operational control framework’ that defined the control principles; this was designed to handle the diverse range of scale, structure, and business process across each of the branch offices and the head office functions. By translating these control principles into local solutions we were able to design and agree the controls. Overseeing the implementation of the controls by the local operational management.

Outcome

Following the design and implementation of the controls in each of the business units, an Internal Audit was performed to validate the design and implementation and approve the controls to the board, resulting in the client being able to attest to regulatory compliance.

Stratiformis

  • Formed in 2007 to deliver Strategic Advisory and Transformation Delivery Services
  • Unique mix of business, IT and change skills that provide a broad understanding of the drivers, challenges and methodologies for the successful implementation of change within an organisation
  • Operating predominantly in the Insurance and the Telecommunication sectors
  • Highly experienced consultant team working in close partnership with our clients

Contact us

Stratiformis Consulting Ltd
68 Lombard Street
London, EC3V 9LJ
Phone: 020 786 81817
Fax: 020 786 81800
Email: enquiries@stratiformis.co.uk