SUCCESFUL REGULATORY REPORTING

Meet the demands of regulatory reporting faster and better

Since the financial crisis of 2008, financial institutions have been exposed to a tsunami of growing regulatory scrutiny – and as organisations expand and operate across borders, investment managers have to comply with numerous local and international regulations.

However, it requires substantial resources to comply with the increasing complexity of financial regulations. Not even calculating the resources you have to spend to stay up to date and understand the implications of new rules, process and control refinement, collecting additional data and supporting new reporting burdens.

As if this needed to be more challenging, the investment management industry is unfortunately overwhelmed with shadow IT. Essentially, creating a mashup of systems not originally designed to interact reliably and securely.

The result is most often fragmented data systems causing time-consuming data manipulation, difficulties interpreting complex regulations demands and inefficient governance of processes. Challenges that all get in the way of successfully managing regulatory requirements in an effective and easy manner.

Demands for regulatory reporting are on the rise

Financial institutions face increasing demands for regulatory reports and relevant data to ensure compliance. Although requirements differ within different business areas, they are prevalent throughout the financial sector.

  • 1. Bank Treasury

    A Bank Treasury often comes with a heavy workload regarding accounting and reporting. Requirements such as FINREP, BASEL, LCR, CR, NSFR or ORBOF might be important to ensure transparency, adequate capital, liquidity and proper risk management practices. But they are also time-consuming tasks without the proper setup. For many treasury managers, it is a goal to achieve a more efficient reporting process and pull accurate data much faster.

  • 2. Private Banking

    In Private Banking, it is crucial to safeguard the clients and regulations such as MiFID II has been designed to ensure just that. However, changing market conditions and increased client demands have not only created an increasingly difficult environment for Private Banking advisors to advise their clients. Stricter regulations have also meant new requirements for the provision of investment advice, significantly raising the bar of provided services.

  • 3. Asset Management

    Regulatory reporting is time-consuming for asset managers as they must adhere to complex regulatory requirements and submit reporting to multiple regulatory bodies. The purpose is to protect the clients and promote greater transparency. Regulatory frameworks such as AIFMD and EMIR are just some examples of regulatory reports many asset managers have to uphold.

  • 4. Pension & Insurance

    Compliance is crucial within Pension & Insurance – and the requirements are strict. Frameworks such as Solvency II and EMIR have been implemented to ensure transparency and reduce risk. To remain in compliance, Pension & Insurance companies are required to collect, process and report large amounts of data. This is an extremely demanding task, as the complex investment strategies within Pension & Insurance make it truly challenging to showcase your true exposure.

Data silos get in the way of data accuracy

They say knowledge is power. That is also the case with regulatory reporting as you need accurate data to make sound decisions within investment management.

But in too many financial institutions, data silos hinder access to accurate data. Information is exchanged through and used in various formats, putting immense pressure on data quality.

Whether it is financial statements, risk reports, new assets classes or complex investment strategies, data silos often lead to incomplete and outdated information, which affects returns, risk picture and compliance.

As a result, investment managers have to make decisions with one hand tied behind their back and spend a considerable amount of time cross-checking data accuracy.

Investment managers are tied up in manual processes

A lack of access to accurate data is not only a challenge for decision-making within investment management. It costs a lot of time as investment managers have to manually collect and review data to ensure accuracy. 

Manual and labour-intensive tasks such as these steal time away from more value-creating tasks. Even worse, manual reporting increases the risk of errors – something that there is no room for in regulatory reporting.

To solve these challenges, you need to digitalise workflows and consolidate your data. 

One way to achieve this is through an investment management solution that can help you manage and reduce regulatory complexity.

Access to timely, accurate and complete data

With PORTMAN, you get an investment management solution that will help you boost productivity and reduce operational risks and investment complexity. Learn more by going through our product brochure.

 

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Consolidate your data for easier reporting with an investment
management solution like PORTMAN

Although a challenging task, regulatory reporting is a critical activity for financial institutions.

PORTMAN is an investment management solution, that consolidates data for a single source of truth – the necessary foundation for real-time calculations, pricing, risk management and the increased automation of your accounting process. 

 

PORTMAN consists of dedicated modules to ensure a flexible and comprehensive solution that streamlines your daily operation and regulatory obligations. This makes PORTMAN a scalable and future-proof solution, that you can tailor to fit your needs and strengthen your value-proposition. 

With PORTMAN, you, among others get:

1. Cash visibility

Cash visibility and forecasting will become significantly easier with PORTMAN. Both short- and long-term forecasts are nearly impossible when data is stored in disparate systems across the organisation. By creating a single source of truth that breaks down silos, investment managers can enhance visibility and mitigate risk.

2. Transparency

Regulators increasingly require banks to maintain sufficient capital and liquidity buffers and have a robust control environment to monitor and manage risks. An investment management solution like PORTMAN enables investment managers to monitor and control key balance sheet exposures. With PORTMAN, you can achieve improved and trusted governance with investments by implementing the technological infrastructure necessary to master the increasing complexity of investment opportunities, a decision many have been making as of late.

3. Accounting and reporting

Timely, accurate and complete data on various positions and exposures are necessary for regulatory reporting. But without a proper setup, accounting and reporting can take an exorbitant amount of time. PORTMAN helps aggregate and collate data from various sources and systems, making regulatory reporting easier and more efficient.

Shall we talk more about the possibilities?

Are you curious how an investment management solution like PORTMAN can help you meet the demands for regulatory reporting easier and faster? 

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