Regulatory Reporting Support

SUMMARY

Regulatory Reporting Support.

SUMMARY

In the context of transferring banking activities to another partner, the bank (the client) must comply with European banking authority (EBA) reporting requirements. The bank is required to produce regulatory reporting on a monthly and quarterly basis (i.e., COREP, FINREP etc.) Avantage Reply was engaged to provide support and expertise to generate regulatory reporting.

CUSTOMER GOALS

Provide the quarterly and monthly reports to the local regulator for EBA reporting and the nation’s central bank for local GAAP reporting.

CHALLENGES

The Client was facing higher regulatory and operational risk because of staff turnover in key reporting positions within the institution. In order to comply with reporting requirements for credit institutions, as specified in the regulatory authority circular, the bank was required to provide accurate reporting while respecting the regulatory deadlines.

SOLUTION

Avantage Reply provided one full-time resource who led the production of EBA reporting requirements along with central bank’s statistical reporting. The experienced consultant produced all the regulatory reporting using the raw data and a risk engine tool as well as technical solutions in order to monitor the whole set of obligations. The final delivery consisted of:

EBA reporting:

• COREP
• Finrep
• Liquidity Reporting (LCR, NSFR and ALMM)
• Leverage Ratio reporting
• Large Exposure reporting

Central Bank reporting:

• Statistical reporting
• CDDP 6 (Direct collection of payment data)