AI Based Regulations Monitoring For A Big 4 Consulting Firm
About the Client
The client is one of the big 4 managing consulting firm in the world and the project was done for their Risk and Compliance practice
Business Requirement
- Monitor 200 US Federal Reserve and OCC websites daily to identify regulation changes impacting CCAR reporting
- Track and report these changes based on the desired report frequency
- Reduction in manual errors and SME dependency
Our Solution
- Automated document monitoring using highly configurable Python engine.
- Engine scans all given websites, provides notification of the regulations which have undergone a change and downloads them.
- Report on what has been changed is generated.
- Technologies used: Python.
Process Flow
Business Outcomes
- Timely and accurate data
- 30% Reduction in manual errors after automation
- No dependency on the SME
- Time spent on SME reduced by 60% after automation