Date of Award
12-6-2023
Document Type
Dissertation
Degree Name
Doctor of Philosophy (PhD)
Department
Computer Science
First Advisor
John R. Talburt
Abstract
The purpose of this mixed-methods, action research study was to help financial institutions build and implement controls for data quality and integrity for model data input, allowing financial institution models to offer quality output or reports for quality business decisions by upper management. This mixed-methods study addressed three research questions. The quantitative question that was addressed was: To what extent does implementing a Data Integrity Program (DIP) influence the quality and integrity of model data input at different stages of Model Risk Management (MRM) in mid-size financial institutions? The qualitative portion of the study addressed two research questions which included: How do mid-size financial institutions differ in their approach to implementing Data Integrity Programs (DIPs) within Model Risk Management (MRM) across the various stages and What challenges and best practices emerge from exploring mid-size financial institutions' experiences in implementing Data Integrity Programs (DIPs) within Model Risk Management (MRM) across the five stages? The sample consisted of 38 employees working in a mid-sized financial institution in which interviews were conducted and a survey distributed regarding model owners' and model users' perceptions of the Data Integrity Program, as well as an evaluation of FI's Data Quality aspects. The primary findings from the study indicated a prevalent unawareness among employees about the dimensions of data quality. There was also a noticeable scarcity in the usage of data quality tools and technologies, coupled with a pressing requirement for support and training. For financial institutions to flourish, it is imperative to channel investments into employee training, establish robust data governance frameworks, adopt advanced data management tools, and enforce stringent data security measures.
Recommended Citation
Yadav, Divya, "A Framework for Implementing Data Integrity Program Enabling Mid-Size Financial Institutions to Meet United States Federal Reserve Data Quality Requirements for Model Risk Management" (2023). Theses and Dissertations. 1166.
https://research.ualr.edu/etd/1166
