The stringent requirements of Solvency II around data governance and control is the concept of data transparency and data lineage. Moore Stephens has developed a solution that enables end users to see the business definition and characteristics of a particular data item. In addition it provides full traceability to ensure the source and any manipulation is evidenced and documented.
The first step is to define a data glossary which sets out each data item, with its definition, characteristics and usage , together with maintaining a full audit trail. You then need to work down from the glossary through all the data layers back through to the underlying source system.
The traceability of data through the layers is represented diagrammatically to help understand where the data comes from. Each data item’s traceability can then be determined including:
• what it is part of
• its dependencies
• its links.
Having completed this mapping exercise, the software can illustrate full traceability for each data item, displaying:
• source
• target
• dependencies.
In addition to the top down analysis, we can also provide the ability to analyse from the bottom up. For example, where a data item in a source system needs to be amended, our tool allows you to easily identify which key reports, or components of the internal model, use this data item. This is particularly useful when trying to quantify the impact of a data quality issue.