Implementation of the Deposit Insurance regulatory initiative commissioned by the South African Reserve Bank
Regulatory and Compliance
Data and System Analysis
Process Flow Modelling
Power Automate, Power Platform
Regulatory & Compliance
Architectural Design and Reporting
DIS requires aggregated customer views – this expedites development of banks’ strategic Single View of Customer initiatives
Many of CoDI’s requirements are still in being determined, thus requiring a flexible architecture build and stakeholder mgmt
The substantial amount of customer data required will require banks to optimise their data warehouse performance
The Deposit Insurance Scheme (DIS) is a regulatory initiative commissioned by the South African Reserve Bank and led by the Corporation for Deposit Insurance (CoDI). It aims to provide financial stability within the South African banking sector by protecting depositors in the event of a bank failure. This financial stability will be achieved through a combination of strong regulation and supervision, crisis management tools and an effective resolution framework.
Essentially, the role of a DIS is to ensure that the cost of a potential bank failure does disproportionately impact the bank’s most vulnerable consumers by ensuring bank deposits are repaid up to a limit of R100 000. This supports financial stability by helping to reduce the probability of liquidity squeezes and contagion impacts that could result from a reluctance to place deposits at a bank or from disruptive bank runs.
Monocle has been tasked with assisting a large commercial bank with the end-to-end implementation of a solution that ensures compliance with this regulation. This includes the analysis of all regulatory documentation from the Reserve Bank, the creation of a strategic implementation framework to facilitate the analysis and identification of all relevant systems within the bank, the finally, the creation and implementation of the Depositors Insurance Scheme solution engine, Reference Data Management solution and the DIS KPI Dashboard.
Creation of a strategic implementation and architecture plan
A functional solution engine that complies with DIS regulation requirements
A dashboard that is used to monitor KPIs for management
A thorough understanding of the Deposit Insurance regulation, the new DIS publications and concepts involved
In-depth technical knowledge on dynamic SQL and data ingestion patterns
Experience in regression testing capabilities for DIS processes and calculations
Experience as execution partner to affect change on a project of this scope and size
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