Data Processing
From Open Risk Manual
Definition
Data Processing denotes the set of automated or manual operations that an organization may perform on its material digital data flows. It comprises of activities that form part of a Data Processing Taxonomy such as:
- Data Sourcing (also Data Collection)
- Data Storage (persistence of data in databases)
- Data Validation
- Data Migration
- Data Use
ECB TRIM Requirements
Data Processing in regulated financial institutions is subject to specific requirements[1] in particular with regard to manual interventions and data transfers:
- Ensuring that all data transformations are traceable and controlled. General guidelines and rules should be clearly formalised with regard to manual interventions within the data processing;
- Ensuring timeliness and Accountability. All data transfers should be formally agreed upon (for example by means of service-level agreements) by data providers and data users (for both outsourced and in-house processes).
See Also
References
- ↑ ECB guide to internal models - Credit Risk, Sep 2018
