The Financial Supervision Sector Bank Dashboard (FSS Bank DB) is an automated, ready reference material of key financial and non-financial information about individual banks. It is a dynamic platform that contains information source from regular reports submitted to the Department of Supervisory Analytics as well as qualitative inputs source from regular reports submitted to the Department of Supervisory analytics as well as qualitative inputs.
Background and Problem
The FSS Bank dashboard was created to meet the following objectives:
- To enhance the existing process of how an institution is being evaluated in the preparation of an Institutional Overview (10) which is crucial in planning out the examination approach for banks.
- To provide the management a snapshot of individual bank performances highlighting its condition, business model and brewing trends.
Prior to the introduction of the bank dashboard, examiners were compelled to produce voluminous write ups regarding the condition of banks subject for examination. With the dashboard, this process was standardized and automated highlighting essential financial and non-financial information.
Solution and Impact
The steps done to start and implement the FSS Dashboard were identification and selection of key financial and non-financial information that will form part of the dashboard, creation of a dynamic excel base template with various visual aids where these selected data will be represented, and creation of a program that will transfer and filter extracted data from submitted banks reports to create individual bank dashboard. Financial statistics sourced from various bank reports including other non-financial information undergoes a data mining process through SAS EG. The process filters all needed information from these reports into a master file. Containing all needed information about banks, an in-house developed program extracts data from the master file, joins it with the qualitative inputs from Financial Supervision Departments and transfers this combined information to a specialized template. The template, an excel file containing formulated cells and groupings, organizes bank information to a one-page summary known as the FSS Bank DB. The benefits of this project include the following:
- The FSS Dashboard enhanced the process by which IOs of banks are being prepared through graphical representations of the bank’s financial data and qualitative inputs (i.e. risk profile and supervisory approach, supervisory rating and qualitative assessment).
- The FSS Dashboard also improves the accuracy of processed information through its automated nature
- The FSS Dashboard reduces the time and effort exerted in manually creating individual graph presentations that could have been used by bank examiners in data analytics.
With the FSS Dashboard, the 10 was standardized. The preparation time bank examiner allocates for the crafting of write ups and graphs was substantially reduced giving them more time to focus on the analyzation process. The FSS Dashboard was awarded the 2018 BSP PRAISE Award. The BSP Praise award is given to recognize projects/initiatives that resulted in process improvement or enhancement and was done on top of their BAU. Moving forward, the FSS Dashboard is being envisioned to be incorporated with more advance technologies such as Artificial Intelligence (i.e. Application Programming Interface) and Big Data Analysis.