Nationwide is the world’s largest building society as well as one of the largest savings providers, and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million customers.
Nationwide Building Society Project
Project Goal(s)
Perform an internal audit for Basel Compliance for Banking Supervision (BCBS) 239, under Section 166 and Data Governance framework.
Contributions
This includes internal audit of Nationwides’ 14 principles in relation to the BCBS 239:
- Overarching Governance and Infrastructure:
- Governance
- Data Architecture and IT structure
- Risk Data Aggregation capabilities
- Accuracy and Integrity
- Completeness
- Timeliness
- Adaptability
- Risk Reporting Practices
- Accuracy
- Comprehensiveness
- Clarity and usefulness
- Frequency
- Distribution
This includes internal audit of Nationwides’ key components in relation to their Data Governance Framework or better known as the Data Management Capability Assessment Model (DCAM):
- Data Management Strategy and Business case
- Data Management Program and Funding model
- Business and Data Architecture
- Data Technology and Architecture
- Data Quality Management
- Data Governance
- Data Control Environment
- Analytics Management
This includes an internal audit of Section 166 observations by the Prudential Regulatory Authority.
We also reviewed the controls implemented as per Financial Conduct Authority requirements.
Technologies/Framework/Platform for data/management/delivery
- BCBS 239
- Data Governance Framework
- Collibra
Outcomes
The audit identified areas of gaps. We also suggested appropriate mitigation measures to bridge the gaps.
In addition, we reviewed the Collibra implementation roadmap and provided inputs into the key design considerations for the implementation.
The audit was approved, and the suggested controls and Collibra requirements were scheduled for implementation.
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