THE GROWING IMPORTANCE OF BIG DATA ANALYTICS IN COMPLIANCE REPORTING FOR FINANCIAL SERVICES
Advancements in technologies and ever-growing and changing regulations have created a more challenging landscape for today’s financial services industry. From adhering to financial compliance requirements to managing global tax function, several financial institutions or banks are subjected to heavy fines and penalties.
Looking at how compliance reporting is being done right now, most would find it to be a significantly manual, multi-step, severe process that lacks transparency. However, there is an intrinsic need to formalize this process in the financial services domain. Most banks or financial services providers are now seeking technologies that can streamline the painstaking compliance requirements as traditional approaches require longer processing times to simplify and evaluate the huge amount of data essential for regulatory reporting.
This is where Big Data comes into the scene and rescues the banks and financial institutions. The current big data solutions, compared with traditional approaches, can very effectively incorporate multiple, distinctive data sources and assess massive data volumes, lessening compliance analytics cycle times from weeks to days. Most big players in the financial services market globally are leveraging next-gen big data analytics to faster, robust and exceptional regulatory compliance analytics delivery.
Recently, PwC has developed a suite of services, named Managed Services, aimed at a holistic approach to data management, analytics, and reporting functions. The platform designed to specifically address challenges within finance and tax.
As data is classified into different types and encompasses reference data, transactional data, operational data, and security data, they significantly differ in terms of size, shape, frequency of change and each of these data types needs to be managed precisely.
For many banks, particularly the smaller ones, the high cost of meeting regulatory requirements is also an encumbering thing. And violations of these requirements are even expensive and sometimes exorbitant for smaller banks that make lesser capital than larger banks. So, big data analytics can provide more fiscally beneficial in the long run against the potentially billions of dollars in fees and fines over small errors.
Why is Regulatory Compliance Reporting Significant?
In today’s global business environment, regulations are changing with the political winds, which means companies must keep up-to-date with these developments and adapt their business practices accordingly to remain on the right side of the law. Compliance reports provide detailed accounts of a business’s progress on particular or collective compliance initiatives, which can give a comprehensive summary of the company’s compliance efforts.
Compliance reports also classify areas within the company where compliance initiatives are being adhered to effectively and those areas wherein more work is needed to meet the regulatory standards or internal controls.
Source:analyticsinsight
Industry: Data Center
Latest Jobs
-
- Security Architect | MoD - Security Cleared. OUTSIDE IR35 | Hampshire
- N/A
- Outside IR35
-
Security Architect | MOD | Security Cleared | Outside IR35 | Hampshire Commutable The successful candidate must be willing to undergo DV Clearance, ideally already holding active clearance. You will produce high and low level security architecture documentation, guiding and validating designs for systems deployed within sensitive environments. The role requires providing specialist security input into solution design, service transition and change initiatives, working closely with engineering, operations, client and third party stakeholders. You must have current hands on architectural experience, including VMware secure platform design and virtualisation architecture, alongside AWS expertise. This is an outside IR35 contract- 6 month rolling. Part of a longer term MoD project
-
- Active Directory | RBA engineer | UK Remote | SC Clearable
- United Kingdom
- N/A
-
Technical Active Directory (AD) and RBA specialist needed to play a key part in complex, enterprise scale Active Directory and access transformation programmes. You will work alongside senior team, helping reshape access models, modernise legacy directory structures and strengthen security posture across secure environments. This is hands on delivery within high impact projects where your work directly improves access control, compliance and operational resilience. Active UK Security Clearance required. This is a remote role with client travel. Implementation of Role Based Access Control across large AD estates Restructuring complex permission models, security groups and delegated access Supporting domain controller upgrades and core directory improvements Applying security hardening standards and remediating audit findings Enhancing authentication, policy and access governance frameworks Troubleshooting and resolving technical AD challenges within live environments Producing robust technical documentation and identifying project risks You must have the following technical experience Enterprise Active Directory administration Role Based Access and permission remediation OU design and governance Group Policy management Security group delegation models DNS and DHCP services Kerberos authentication / NTLM PowerShell scripting and automation Azure AD | Entra ID Hybrid identity environments Identity Governance PAM
-
- Identity and Access Management Consultant (Saviynt & Microsoft Entra) | UK
- United Kingdom
- N/A
-
Role summary Technical IAM consultant delivering identity governance and cloud identity solutions to enterprise clients. What you will do Implement / Configure / Deploy Saviynt IGA / Microsoft Entra solutions: Lead technical workshops, gather requirements and translate into solution designs. Troubleshoot complex issues, support testing and deployments. Produce technical artefacts and configuration guides. Key skills Hands-on Saviynt IGA experience (workflow, connectors, access governance). Strong practical knowledge of Microsoft Entra ID / Azure AD identity and access controls. Understanding of identity protocols (SAML, OAuth, OpenID Connect) and hybrid identity. Experience with APIs / REST for integrations and automation. What we are looking for Proven delivery experience in IAM / IGA projects, preferably in consulting. Confident communicator with client-facing delivery exposure.
-
- Cyber Security Technical Presales Consultant | UK | Managed Services SOC / Pentesting etc
- England
- N/A
-
Experienced Technical Pre Sales Cybersecurity Consultant to support organisations across the UK. This role focuses on delivering advisory, high level solution design, and security uplift services that improve security outcomes, address operational challenges, and enable informed technology decisions within complex and regulated environments. The position blends technical pre sales expertise with a consultative approach, working closely with technical, operational, and commercial stakeholders to shape effective and scalable cybersecurity solutions such as Managed Services SOC / Pentesting etc The individual must be able to achieve UK Security Clearance. Key Responsibilities Provide technical pre sales support across cybersecurity solutions and services for organisations operating across multiple industry sectors Engage stakeholders to understand security challenges, risks, compliance requirements, and operational pain points Deliver advisory guidance and recommendations to strengthen security posture and organisational resilience Translate customer requirements into clear, outcome focused technical and commercial solution designs Act as a trusted technical advisor throughout the sales and early delivery lifecycle Produce clear technical documentation, recommendations, and customer facing materials suitable for regulated environments Collaborate closely with sales, delivery, and technical teams to align solutions with customer needs Experience and Skills Proven experience in technical pre sales or cybersecurity consultancy Experience working across multiple industries, ideally within regulated or complex environments Broad knowledge of cybersecurity technologies, managed services, and risk based approaches Strong communication skills with the ability to engage both technical and non technical stakeholders Confident operating in a client facing, consultative role UK based role with remote working Occasional travel for customer engagement as required