Data Processing
From Open Risk Manual
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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