Gain Greater Insight
Navigating today's regulatory environment is challenging because it's subjective.
Identify Process Variation and Effectiveness Through Full-Population Testing
A data-driven approach can remove the subjectivity.
With the increasing availability of data, regulators will also soon expect a data-driven compliance process.
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Through VALIDATOR you can now validate process design for compliance and monitor process and data management effectiveness.
Full-population testing will detect application-level process variation which may not be detected in sample-based testing.
CASE STUDY
Scenario 1
- Bank merger, banks on different instances of MSP
- Same full population test applied to data from both portfolios and MSP instances
- Tested for borrower protection during forbearance period and up to 6 months after, if
actively seeking assistance
Outcome
- Testing identified business process and data differences between the two portfolios for a specific group of customers in forbearance
- Conversion without this insight could have negatively impacted one group of customers, requiring post conversion manual cleanup
Scenario 2
- Large consumer loan sub – servicer tested compliance to required response times for qualified requests
- Requirements vary across states
Outcome
- Testing identified compliance issues
- Business processes not designed to capture the data required to demonstrate compliance
- Processes and training did not consider state specific differences in timing and conditions
- Identified non–compliance trends across certain types of requests, e.g., email vs. letters
