1. STREAMLINING THE CCAR PROCESS HELPS
MULTINATIONAL BANK SAVE TIME AND
IMPROVE ACCURACY
CHALLENGES
• A large team of bank employees was sending a single Excel file that included more
than 20 tabs to every department in order to collect data for CCAR submissions
• Completed Excel files from different contributors were emailed and then manually
consolidated, which was a time-consuming and tedious process
• The Federal Reserve imposes stringent audit requirements whereby every change to a
number or template must be recorded; as a result, the bank’s team had to search
through more than 2,000 files to track changes and determine the reasons for each
change
• Since every department contributes data to CCAR submissions, employees put their
regular duties on hold until the submission was completed
SOLUTIONS
• The bank’s bulky Excel file was divided into individual templates within Vena that
include lines specific to each department
• Saved files and underlying data are automatically consolidated into Vena’s central,
secure data repository, eliminating the need for inefficient email exchange
• Vena’s audit trail automatically records and shows every user change in a detailed,
easily accessible log
• Vena’s powerful workflow engine allows managers to easily design process-specific
workflows and receive notifications when files are ready to be edited, reviewed,
approved, or rejected
• Vena’s business and validation rules guarantee that only the appropriate users have
access to specific templates, formulas and data
• XML outputs are automatically generated and validated against all CCAR edit and
validation rules
QUICK FACTS
Industry: Banking
Assets: > US$300 billion
Employees: > 20,000
Headquarters: U.S.
BACKGROUND
A multinational bank based
in the U.S. used a single Excel
file with more than 20 tabs
to collect data for its CCAR
submission. The template
lacked a formal workflow
engine, meaning changes,
approvals, and rejections had
to be communicated through
email. The bank had issues
with version control and
email overload and was at
risk of submitting inadequate
documents to the Federal
Reserve.
Vena alleviated the burden of
manual work by breaking up
the bank’s templates into
smaller, department-specific
templates. All data is
automatically consolidated
into Vena’s central data
repository, while a powerful
workflow engine, audit trail,
and role-based security make
the bank’s CCAR processes
fully transparent and gives
managers full confidence in
reported numbers.
CASE STUDY
“Dealing with more than 2,000 spreadsheets
caused us a lot of anxiety because we’d have
to manually search for the changes the Feds
needed to see... Vena’s audit trail was just
what we needed to streamline this essential
process.”
