Banking — Automated Internal Audit Workflow for Governance Enhancement

Overview

The purpose of this DAG is to automate the internal audit process within the banking sector, thereby strengthening governance and compliance. It collects data from various sources, including transaction logs, customer databases, and regulatory reports, ensuring a comprehensive view of financial activities. The ingestion pipeline begins with data extraction from these systems, followed by a series of processing steps designed to validate and verify the integrity of the collected data. This includ

The purpose of this DAG is to automate the internal audit process within the banking sector, thereby strengthening governance and compliance. It collects data from various sources, including transaction logs, customer databases, and regulatory reports, ensuring a comprehensive view of financial activities. The ingestion pipeline begins with data extraction from these systems, followed by a series of processing steps designed to validate and verify the integrity of the collected data. This includes checks for consistency, completeness, and accuracy, ensuring that only reliable data is used for audits. The results of these audits are stored in a secure audit registry, which provides a clear trail of all activities and findings. In the event of any discrepancies or failures during the validation process, an automated notification system is triggered to alert responsible stakeholders, facilitating prompt resolution. Key performance indicators (KPIs) are monitored throughout the process, including the number of audits completed, the percentage of data validated, and the response time to notifications. By automating these processes, the DAG not only enhances operational efficiency but also reduces the risk of compliance issues, ultimately leading to improved governance and trust in the banking institution.

Part of the Predictive Maintenance solution for the Banking industry.

Use cases

• Increased efficiency in conducting internal audits
• Enhanced data integrity and reliability for decision-making
• Reduced compliance risks and potential penalties
• Improved stakeholder confidence in governance processes
• Streamlined communication for audit-related issues