Downloads: 10
Informative Article | Finance | Volume 11 Issue 11, November 2022 | Pages: 1528 - 1531 | India
Automating Regulatory Reporting Testing: Strategies for Efficiency and Accuracy in CCAR and DFAST Software
Abstract: Financial institutions face increasing challenges in meeting regulatory reporting requirements, particularly for the Comprehensive Capital Analysis and Review (CCAR) and Dodd - Frank Act Stress Test (DFAST) processes. Manual testing of regulatory reporting software can be time - consuming, error - prone, and resource - intensive. This paper explores the benefits and challenges of automating regulatory reporting testing for CCAR and DFAST software, focusing on strategies for improving efficiency, accuracy, and compliance. The paper proposes a framework for implementing automated testing, including test case prioritization, data - driven testing, and continuous integration. The framework is evaluated through a case study, demonstrating significant improvements in testing speed, coverage, and defect detection. The paper also discusses best practices and future research directions in regulatory reporting testing automation.
Keywords: regulatory reporting, automation, CCAR, DFAST, efficiency
How to Cite?: Praveen Kumar, "Automating Regulatory Reporting Testing: Strategies for Efficiency and Accuracy in CCAR and DFAST Software", Volume 11 Issue 11, November 2022, International Journal of Science and Research (IJSR), Pages: 1528-1531, https://www.ijsr.net/getabstract.php?paperid=SR24529172544, DOI: https://dx.doi.org/10.21275/SR24529172544