RISK MANAGEMENT SOFTWARE DEPLOYMENT: YOUR GUIDEBOOK TO SUCCESS 15
It's important to notice any unusual activity in data updates as
well. This could indicate that something went wrong with the
production of the file or that a change was made in the data source.
Using custom automated controls designed for each individual data
source, we can alert both our team and the client if unusual activity
is received on a particular file. We can make sure that any changes
in frequency or dollar swings are accounted for, investigated and
corrected, if necessary.
No matter how well a database is designed, if the data itself is not
accurate, it won't be worth much. That's why we put protocols in place
that will monitor the integrity of data entering the RMIS.
In terms of monitoring data accuracy, the concept of "balancing" is
critical. A good data intake process must include methods for reconciling
(or balancing) numerous variables. The number of records in the RMIS
should be balanced with the number of records in the source data.
Likewise, there is also financial balancing, which ensures the risk
management software is bringing in the correct dollar amounts and that
they're adding up correctly.
LARGE SWINGS IN DATA SIZE OR FINANCIALS RISK DATA QUALITY: CHECKS AND BALANCES
