How to Ensure the Reliability of Regulatory Returns Through the Successful Integration of Data Across the Institution
Meeting regulatory reporting requirements continues to be challenging for many financial institutions particularly when data is managed across complex and fragmented end to end processes that continue to develop significant manual interventions without the necessary controls. This is the sentiment expressed by the Prudential Regulation Authority (PRA) in September this year, after it released its thematic findings related to it’s 2019 ‘Dear CEO’ letter — reliability of regulatory reporting.
Following the PRA’s concern regarding the findings, these issues will remain part of its focus for banks going forward. It has become critical for banks to address the root causes behind the governance, ownership, controls, and infrastructural investment pain points identified. In turn this will reduce the time, effort and costs spent by risk, finance and treasury who continue to manage these inconsistent data approaches. Going back to the fundamentals within data and process design will allow institutions to create alignment and efficiencies across their regulatory data landscape. Alongside this, upgrading your reporting infrastructure will allow for better management of risk and regulatory data to create a more streamlined process.
Our panel will be fielding questions from attendees to make this an interactive and informative session.
Learning Objectives:
- What are the key pain points related to the reliability of regulatory reporting
- Practical solutions for integrating data for regulatory reporting
- Principles and best practices to promote the alignment and quality of data
- The role of effective governance and ownership of data.
- Practical considerations for the design and delivery of programmes
Speakers
- Colin Ware Regulatory Product Manager, Asset Servicing at BNY Mellon
- Francis Gross Senior Advisor at European Central Bank
- Rishabh Rai Regulatory Reporting Analyst and Assistant Treasurer at Union Bank of India UK
- Rheta Du Preez Consulting Director for UK and Europe at Monocle
- Theo Kumm Director: Business Development and Research at Monocle
