WIKILINK: Management of Knowledge

Knowledge is a resource that can create a stable, sustainable competitive advantage and it is no longer enough solely to have it but it is necessary to be able to manage it suitably to support operating processes and strategic company processes.

In a context such as finance, where legislation is increasingly pressing and complex and the response times required by the governing body are increasingly shorter where the information systems are increasingly complex and difficult to use, the need for overseeing and integrated governance of the information is even more essential.

"Integrating knowledge" induces the need to have tools that are capable of guiding the technical operator in his use of the system that manages regulatory information and the functional operator in retrieving the origin of the information, the process that has generated it, its correct contextualization and how the consequent outputs will be produced.

In particular, the legislative context represented by the "Document for consultation - Prudential supervision provisions for banks - Internal control system, information and operational continuity system" expressly refers to the need for integrity, completeness, correctness of stored data and information shown, and also ease of verification for the control departments.

In brief:

  • a company standard of data governance is defined, which identifies roles and responsibilities of the departments involved in handling information and the measures aimed at guaranteeing the quality of both operational and management data (in terms of completeness and accuracy),
  • the use of sectoral procedures (accounts, reporting, money laundering...) must not affect the quality and overall consistency of the company data; on a consolidated level, integration of information coming from all the group components must be guaranteed
  • in the event of using a specific data warehouse company system for analysis and reporting purposes, the extraction procedures from operational systems, the transformation and loading onto the new system procedures - and the data exploitation functions - must be documented in detail, in order to allow verification of the quality of the data provided.