Data Remediation In Financial Services – Triggers, Execution, Controls And Continuous Improvement

 
 
TITLE:  Data Remediation In Financial Services   AUTHOR:  Milan Ciric - Consultant

TITLE: Data Remediation In Financial Services

AUTHOR: Milan Ciric - Consultant

 

INSIDE THIS DOCUMENT

Data remediation activities in financial services will never cease. The best that can be achieved is significantly reducing the frequency and scope of remediations over time.

If new data is entering a system, there will always be a need for data quality management, including remediation work. Data is inherently ‘dirty’ and must undergo a systematic quality process.

This paper can be applied to data remediation events in superannuation, wealth management, banking and insurance. It discusses the following elements:

  • TRIGGERS: the event that instigated the data remediation

  • EXECUTION: the process of fixing the data

  • CONTROLS: the process to stop the issue from recurring


If your organisation needs assistance with data remediation, QMV can help.

QMV have performed hundreds of data remediation projects. We utilise an innovative and flexible approach to assist clients identify and create visibility of data quality issues.

QMV’s extensive work in data quality management led to the development of Investigate our data quality software solution.

Please reach out to QMV for further information on p +61 3 9620 0707 or submit an online form 

ABOUT QMV

QMV provides trusted advisory, consulting and technology to Australia’s leading superannuation, insurance, banking and wealth management organisations.


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