Financial Capital Data
CAPITAL RECONCILIATION
"In the context of reconciliation, the process involves comparing distinct elements within an entity that are classified and approached differently in separate sets. This requires establishing a shared understanding of the differences and creating a standardised report that connects the reconciled elements." - Vincent Santeng
The Basel Accord Standards extend beyond standard accounting, compliance, risk management, and asset performance reports. Financial entities have diverse stakeholders with specific interests, leading to multiple data sets generated to cater to their needs. Reports on finance capital, economic capital, and regulatory capital often show significant discrepancies for different readers.
Data Reconciliation
Data reconciliation is vital for complying with Basel Accord recommendations, leading to additional compliance responsibilities for organisations. Divergent stakeholder objectives and approaches to data management cause disparities in business-generated data. This results in additional data generation to meet specific reporting needs, leading to inevitable data quality issues. Management must provide meaningful explanations for discrepancies between economic capital models, financial data, and regulatory capital data. Reconciling this data requires expertise, software, IT solutions, and a well-thought-out data migration strategy.
Finance
Capital Data
Regulatory
Capital Data
Economic
Capital Data