The risk management department of a major European central bank produced a wide range of daily and weekly reports to monitor exposures, limit breaches, and operational controls.

However, report compilation was largely manual, involving the collection, validation, and distribution of data across multiple systems. This process was time-consuming, error-prone, and heavily dependent on individual staff expertise.

The bank sought to automate its reporting processes to:

·       Reduce operational risk

·       Improve report quality and consistency

·       Free analysts to focus on risk interpretation and recommendations

·       Provide faster and easier access to reports for senior management

SkySparc proposed a phased automation project using OmniFi to replace manual report creation with a centralized, automated workflow.

The first phase focused on five key reports — daily and weekly management reports, a daily operational controls checklist, and two Value-at-Risk (mobile) reports.

OmniFi was configured to:

·       Aggregate data directly from multiple systems via APIs and databases

·       Automate report generation and verification

·       Distribute reports securely through the web portal and email

·       Support approvals and version control via web-based dashboards

The daily operational controls report, once prepared manually from system logs, now runs automatically each morning.
OmniFi compiles data on transactions, limits, and exceptions, highlights anomalies, and delivers the report directly to analysts and managers.

Weekly management reports combine automated metrics with analyst commentary, allowing flexibility to highlight emerging risk themes. Reports are distributed in a two-part format: a concise summary email with key indicators, and a detailed attachment with full breakdowns and trend analysis.

“We are now able to generate better quality reports, with less operational risk and reduced calls on internal resources.”
— Senior Risk Manager

By automating data collection and report generation, the central bank achieved:

·       Higher quality, fully auditable reports

·       Significant time savings in daily and weekly routines

·       Reduced operational risk through consistent, automated validation

·       Empowered analysts, who can now focus on interpreting data rather than compiling it

SkySparc also provided training and knowledge transfer, enabling risk analysts to create and maintain their own reports using OmniFi’s intuitive interface. This has led to broader adoption of OmniFi across the organization, with plans to extend automation to accounting and other business functions.

In response to the project’s needs, SkySparc enhanced OmniFi’s workflow capabilities and introduced secure password-protected report delivery, now part of the platform’s standard functionality.

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Quick Facts

·       Automated five key daily and weekly risk reports

·       Eliminated manual compilation and improved data accuracy

·       Enhanced security through encrypted file distribution

·       Increased analyst productivity and insight quality

·       Central bank plans to extend OmniFi use to other departments