RPA For CCAR Regulations Monitoring

About the Client

The client is one of the big 4 auditing firms 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.
  • This job was done by few of their qualified professionals, not an efficient usage of their skillsets.
  • The data is SME dependent and prone to manual errors.

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.

Process Flow

Business Outcomes

  • Resource requirement reduced from 12 to 2.
  • Reduction in cycle time from 16 hours to 4 hours.
  • 97% accurate classification, negligible false positives.