Mounting regulatory requirements and scrutiny have caused banks to worry about their regulatory reporting requirements. As previously reported:
Avantage Reply has extensive knowledge and expertise on dealing with different regulatory reporting issues. Below, you can find a selection of projects, illustrating how we have helped our clients with the different aspects of their regulatory reporting.
A Eurozone D-SIB and subsidiary of a G-SIB needed help to set up an optimal AnaCredit reporting infrastructure that ensures the reliability and availability of granular data.
To meet the ECB requirements, the client had to integrate new data items managed by the business into its reporting framework. This required a suitable data quality management procedure to be implemented.
An international private bank needed to improve the quality of regulatory reporting process (FinREP data, CoREP data) and the documentation of this process.
The client had a complex IT architecture that had evolved over the years without re-assessing how it could be simplified. In addition, the client had recently offshored part of its regulatory reporting team. Finally, the client had a specific activity focused on customised transactions that require non-standard accounting entries. These factors resulted in regular errors in the reports sent to the regulator and therefore required an in-depth review of the processes to remediate the issues.
A European investment bank requested that Avantage Reply relocate its database for CoREP computation to another European country and maintain it for several years.
The focus was on the computations and reporting requirements stemming from the Capital Requirements Regulation (CRR) such as the reports detailing the risk-weighted assets for credit and counterparty risk and the ‘Large Exposures’ regime.
The IT department of a European retail bank and insurance company, required future-proof financial reporting available to all managerial levels of their organisation.
The client is decentralised which means that different part of the organisation may have specific requirements and methods of working. Also, the end-users had diverse backgrounds, with regards to the financial and technical acquaintance.
A European D-SIB needed assistance in conducting an impact analysis on the new EBA definition of default.
The main challenge was the short period of time available to realise a custom end to end solution. Additionally, not all the required data had been identified by the client and made available at the beginning of the project.
A G-SIB specialised in private banking and asset management needed support to produce their Basel III regulatory reporting in line with EBA ITSs.
The main challenge was that the client used an American accounting software whose functioning is not well aligned to European requirements.
Avantage Reply has an internal academy which provides training solutions. In 2020, a specific stream of 4 trainings covers regulatory reporting. The training solutions we offer can be tailored to the specific needs of each client.
If you require assistance with your regulatory reporting requirements, please feel free to contact