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Accounting System for a Fortune 50 Mortgage Finance Company More

Business Problem
  •   Issues with current accounting process and data quality
  •   Compliance issues for amortization of premium and discounts
  •   FAS 91 compliance
  •   Process review against FAS 91, FAS 115 and EITF 99-20 as well as internal policies
  •   Requirement of changes to process with multiple business teams

Solution
  •   Developed strategy for process changes
  •   Developed detailed solution for incorporation of data quality in the process
  •   Performed documentation of process changes as business requirements with a detailed plan for     automation of process changes by IT Team of the client

Benefit to the Client:
  •   Enabled the client to streamline data quality issues in Get Current process



Business Operation and Controls for a Fortune 50 Mortgage Finance Company More

Business Problem
  •   Challenging need for Accounting Restatement against aggressive schedule
  •   Shortening long Accounting cycle time
  •   Lack of reliability and stability of processes

Solution
  •   Re-engineered business processes and strengthened compliance
  •   Automated processes for Data Analytics
  •   Tightened Process Integration and Enhanced Controls

Benefit to the Client:
  •   Highly effective in helping to complete Accounting Restatement
  •   Shortened Accounting Cycle Time by 50%
  •   Improved stability and reliability of the underlying processes



Automated Controls and Data Validations for a Fortune 50 Finance Company More

Business Problem
  •   Lack of confidence in Accounting Data by External Auditors
  •   Insufficient Data integration and Data Validation process
  •   Too many key controls that required excessive maintenance
  •   Lack of transparency in End-to-End Processing from Valuation Models to General Ledger

Solution
  •   Streamlined and automated validations between multiple systems
  •   Created data lineage maps
  •   Created data integration routines and reconciled aggregated data points
  •   Automated manual checkpoints by creating data analytics and reporting

Benefit to the Client:
  •   Significant time and cost savings resulting in reduced man hours per close cycle
  •   Reduced key controls from 16 to 5 by streamlining validation approach
  •   Created transparency from source to GL facilitating clarity in external disclosures



Trusted Accounting Data Flow for Fortune 50 Finance Companies More

Business Problem
  •   Need transparency for reconciling GL with source systems
  •   Lack of Data Validation and Controls
  •   Conflicting Data Sources

Solution
  •   Created centralized audited source for CDEs
  •   Automated data validation suites to test for reasonableness and completeness
  •   Implemented Waterfall Methodologies approved by Accounting policy
  •   Implemented comprehensive data lineage by identifying trusted data sources and dependencies

Benefit to the Client:
  •   Significant time and cost savings by closing the books in 5 days which had taken multiple months
  •   Created SOX approved controls that enhanced the auditors confidence
  •   Creation of an enterprise level trusted data source which benefited all business units



Regulatory Reporting - Data Provisioning and Analysis for Fortune 50 Finance Companies More

  •   Data provisioning for Mortgage Related Securities (MRS) & the Non-Mortgage Instruments (NMI)     submissions to the Office of Federal Housing Enterprise Oversight (OFHEO) Risk-Based Capital     (RBC)
  •   Analyzing the impact of OFHEO RBC instruction changes, source system changes, new     instruments / products, defects and enhancements; recommending, prioritizing and tracking     system / procedural changes; defining requirements
  •   Analyzing existing processes for inefficiencies and ineffectiveness. Identify areas for elimination or     process improvement. Recommend, develop, implement and follow through on agreed upon     solutions
  •   Developed operational metrics to measure performance and present submission results to senior     management
  •   Reconciliation of UPB and Unamortized Balances to the Balance Sheet
  •   Automation of Attribution Analysis for quarterly submission to FHFA