What do we offer
Support financial services organisations to respond to challenges of complying with financial reporting requirement by defining and implementing the system, process and policy changes required to ensure compliance. We have extensive experience of leading complex Regulatory Change programmes and also providing experienced, specialist consultants to augment client capabilities.
Why it’s needed
Regulatory reporting requirements change constantly, and the data needed to satisfy them is managed across numerous different systems, making it challenging – and potentially risky – to aggregate.
The complexity of organisations’ structures adds to the problem, as it’s often unclear who’s responsible for reporting different aspects of the business.
Multiple reporting requirements compete for resources and often leave firms struggling to keep up. The consequences of failure – financial, reputational, and even personal – are grave.
What are the key benefits
Making the right systems and data management decisions
- Confidence that your regulatory reporting meets regulators’ expectations and withstands their serious scrutiny and that you have the right data in the right form, produced, stored and moved using the right systems and processes.
- You also need to know not just what the various sets of regulations say (and how they interact) but what they mean. And systems must be able to adapt, so they produce the information you’ll need to report in the future, not just right now.
Devising a robust and do-able plan of action
- Understanding and documenting reporting process from beginning to end, and finding out where different parts of it depend on one another.
- Determining how much they rely on estimates and assumptions and developing the right process for reviewing and challenging their reports before they submit them.
- Satisfy reporting requirements which improves your relationship with regulators and stakeholders.
- Implementing systems that can produce the right data for reporting can also supply data to support your decisions.
CBS has delivered many regulatory driven programmes including COREP, FINREP and IFRS9.