In addition to establishing Data Ownership, Lineage and Traceability around the critical data elements (CDE’s),(See Collibra Data Governance Center and CCAR reporting) Collibra’s Data Governance Center also enables stewardship around those CDE’s. It is one thing to identify which data is required for the CCAR report, it is another to have the stewardship capabilities to locate the correct stewards/stakeholders, determine which business rules and data quality constraints are being applied to the data as well as having automated workflows around any changes that may occur to those CDE’s.
Within Collibra’s Data Governance Center, the relationship between data stewards and other key stakeholders and CDEs is clearly documented. . These relationships are used by out of the box workflows that users within the organization leverage to propose new business terms, business rules, or data profiling rules. These workflows route tasks to the appropriate stewards and/or stakeholders based on what CDE’s the change may impact. The workflows for changes in CDE’s or their rules may also be triggered automatically via Collibra Connect when a change is identified in a system that impacts the CDE.
Workflow form for proposing new rule
The Stewards are then notified either via email or thru their dashboard in Data Governance Center (and soon through the Collibra Mobile application) to review and either approve, reject, or reassign the task to another user. At any time throughout the workflow process, the user can also see where in the process the issue or proposal is currently at.
Approval Process
Example of a task in the issue resolution process
The Steward can Approve, Reject or Reassign the task to others .
In addition to stewardship, Data Quality is also a key component to accurate CCAR reporting, With Collibra Data Governance Center, data quality can be monitored and tracked both from a current and historical timeline. Thresholds can be defined on quality rules so if a particular quality dimension begins to trend down and the threshold is breached, workflows can be initiated to inform the responsible individuals there is a quality issue which needs investigation and remediation.
Data quality summary for a critical data element
Data quality details for that data element
These workflows can be triggered automatically by Collibra Connect via the data cleansing / profiling tool after the statistics are synched into Collibra, or manually if a user finds a problem and wants to log an issue. In either case, the system will initiate a workflow for review and remediation of the issue.
Lastly, based on the Traceability, Lineage, Stewardship (along with roles and responsibilities), and Data Quality an organization can easily “certify” that the individual CDEs on their CCAR report are acceptable for use. The Certification Status can always be viewed for the individual business terms or entire reports.
Certification can have multiple levels as well defined like the example below:
Certification dashboard
Report certification view
CCAR reporting demands robust stewardship and data quality processes. Applying the correct data governance makes the process seamless. Collibra Data Governance center has been designed to address the key concerns of financial institutions, as well as broader data governance needs. In particular, Collibra Data Governance Center automates, centralizes and systematizes the data stewardship, data inquiry, and enables the organization to adhere to the BCBS 239 principles that is required to satisfy CCAR reporting requirements, as well as managing your broader set of data governance activities.
