Improvement of Regulatory Reporting Controls

Large GSE

Client Challenge: 

A GSE client engaged The Oakleaf Group to assist in the development and documentation of controls relating to a complex quarterly regulatory report that was part of the firm’s SEC reporting. 

Oakleaf Approach: 

Oakleaf deployed a 5-person team that worked with the client over several reporting cycles to improve controls and streamline execution, and ultimately support successful submission of the report.

Oakleaf Activities and Deliverables

  • Data sourcing optimization through analysis and de-duplication of complex data queries.
  • Development and documentation of controls related to data integration with upstream and downstream processes.
  • Ensured internal consistency within reports through validation and reconciliation.
  • Project management coordination of data efforts across disparate divisions within the firm.
Result: 
  • Successful delivery of 10-K and 10-Q supplemental report.
  • Mitigation of control risks.
  • Successfully passed internal and external audits of the developed processes.
  • Accelerated execution of the process through coordination and optimization of work among various divisions in the firm.
  • Streamlined and enabled timely ad-hoc analysis of credit and loan modification data during the reporting cycle.
  • The success of the project was one factor in the client’s decision to re-engage Oakleaf for further development of data aggregation, reconciliation and controls related to additional business processes including a large-scale loan modification program and a mortgage servicer measurement framework.