Major Insurance Company
The Company
The client, a major player in the mortgage-backed financial services industry, realized that their existing IT infrastructure (data architecture, data warehouse, and data marts) was insufficient to meet forecasted data analysis and compliance (FAS 133) reporting needs, needing a new streamlined environment that eliminated manual processing, provided maximum data access flexibility, and integrated disparate data sources that met FAS 133 reporting requirements.
The Challenge
In an effort to enhance the Company’s operating performance and profitability, management identified several key opportunities that focused on both the strategic and operational sides of the business.
Major requirements included:
- Mitigate risk by improving quality of portfolio hedging by tracking purchase, sale, exercise and expiration of futures, options and their related uses via compliance (FAS 133) reporting Access to increased geographic coverage and more detailed product information
- Reduce losses eliminating errors (and associated losses) resulting from manual intervention in spreadsheet reporting and analysis processes; also provide for a surveillance function on the hedge funds
- Enhance productivity by developing a data mart of risk data and resultant yield calculations that reduced time and cost required to develop reports