The granular data challenge

Industry experts from across regulators and the regulated delve into the complexities and opportunities of transitioning from template-based to granular regulatory reporting. This shift impacts every stage of the regulatory value chain, from data collection and validation to submission and analysis.  

Our panelists share their experiences, challenges, and strategies for how to achieve granular data reporting while maintaining operational efficiency.

Key takeaways from the panel include: 

• Transitioning to granular data reporting is complex and requires careful prioritization and adaptation.
• Fixing data quality issues at the source and clear communication with stakeholders are crucial for success.  
• Updating technology and using AI can significantly enhance data quality and efficiency.  
• Collaboration within the European System of Central Banks (ESCB) and between banks and regulators is essential for consistency and understanding.  
• With access to high-quality granular data, regulators have a greater responsibility to act on insights and ensure stability in the financial system. 

"When we go granular, it's easier to add new attributes already to the granular data than to have a new collection with aggregated data."

Tanja Loman, Team Lead Economist-Statistician, European Central Bank (ECB)

"Modeling data and dealing with data is not a task to be done alone. It requires teamwork with data users and providers to ensure best practices are followed and data quality is maintained."

Piotr Bojaruniec, Expert in Data Model Management, Regulatory Reporting, Bank BPS

“We are setting up a finance and risk data warehouse to have one golden source for regulatory and internal reporting, ensuring data quality and consistency across the organization.”

Annemarie Ronkers, Head of External Reporting, Rabobank

“We're starting left to right [...] starting with the acquisition of data at the very elementary level in our data warehouse and building to the right. We are seeing results in this build up, from contract balance level to the accounting side."

Pedro Mira Vaz, Chief Data & Analytics Officer, novobanco