MITIGATION OF RISKS OF MAPPING COMPLEX DATA SOURCES ON THE EXAMPLE OF SOLVENCY II PROJECT

The purpose of this diploma thesis is to describe the basic principles of Business Intelligence, its meaning in business reporting with focus on ensuring relevant information for stakeholders and consequently to identify the major risk factors in complex data mapping process of a project carried out for an insurance company Solvency II regulatory reporting. The identification of risks is based on a detailed analysis of the mapping process and its weak points. The main benefit of the thesis will then be the proposed methods by which the risks are mitigated or entirely eliminated. The diploma thesis is focused on specific project, which delivers complex Business Intelligence solution in compliance with Solvency II European insurance regulatory reform. Therefore the flawless mapping of data and mitigation of risks are key to meet the Solvency II requirements on reporting in high quality. The introductory section of the thesis is devoted to definition of Business intelligence and its purpose in organizations. This part also includes the definition of key aspects of successful business reporting and its role in effective decision-making. The other part of the introductory section shortly represents the BI architecture and components of specific Solvency II BI solution. The second main section of the work defines the Solvency II project and describes the specificities of its implementation on a specific project for unnamed organization. Based on the experience of this project is then further described the mapping process of complex data sources. The result is a list of risks arising at each stage of mapping activities. As a completion of the main objective of the thesis there are suggested ways of mitigation for each risk. The benefit of this thesis is that identified risks and the recommendations for their mitigation might lead to more effective project management, increase the quality of its outcomes and satisfaction of company clients.