17 Jun AxiomSL introduces regulatory policy team to support clients in Asia-Pacific
Major regulatory changes anticipated in the region
Singapore – 11 June 2015 – As bank regulators increase the regulatory reporting obligations on financial institutions, AxiomSL, a leading global provider of regulatory reporting solutions, has introduced a regulatory policy team to assist clients to make sense of regulatory demands across the Asia-Pacific region.
The team is headed by Abraham Teo, who has been instrumental in growing AxiomSL in the Asia-Pacific market since its inception here in Asia. Abraham previously led the AxiomSL APAC Regulatory Templates Solutions team and brings broad experience in the financial industry having worked in large financial institutions such as RBS, Barclays Capital and DBS.
Joining Abraham will be Sussan De who has recently joined AxiomSL after a prolific career with Barclays Bank and Barclays Capital across front and middle office. Sussan will focus on comparative studies of banks in Asia and the significance, currency and impact of regulatory changes in Asia-Pacific. She brings with her, expertise in research, business analysis, project management and her experience in investment banking and banking technologies.
The team has started off on an active note, conducting a survey, writing a white paper and organising an industry event focused on the new MAS 610 consultation paper. The event itself was attended by more than 100 industry participants, emphasising the huge interest of Singapore based financial institutions in the new MAS 610 consultation paper.
The team will focus on key regulatory changes faced by financial institutions in the region, such as Regional LCR, Intraday Liquidity, FSDF, FATCA, Dodd Frank and Risk Based Supervision. “There has been demand for AxiomSL to pioneer research on regulations, especially in Asia-Pacific with its multiple markets, bespoke requirements and reporting needs,” says Olivier Kamoun, Chief Executive Officer AxiomSL APAC. “We are excited to offer our clients the benefit of the team’s detailed research into country specific regulation changes and updates across the Asia-Pacific region.”
Abraham Teo, Head of Regulatory Policy APAC, added, “After the great wave of regulation in recent years from Europe and the United States, regulation in Asia-Pacific markets continues to evolve and develop in each local jurisdiction. To supplement the good work our Policy teams have been doing in both EMEA and Americas, we have identified the need for a dedicated team here in APAC that can keep our clients abreast and ahead of significant developments in this part of the world such as the MAS 610 in Singapore. The formation of the APAC policy team will not only bring about greater synergy with our existing teams, but importantly equip clients with updated regulatory reporting solutions.”
AxiomSL is the global leader in regulatory reporting and risk management solutions for the financial services industry. AxiomSL’s unique data-driven platform empowers financial institutions in meeting their reporting requirements across multiple regulators and jurisdictions.
AxiomSL’s best-in-class solution integrates clients’ source data from disparate systems and locations, without forcing data conversion, to deliver an end to end flexible, transparent and auditable reporting process. AxiomSL also offers analytical applications in the areas of data risk management, capital reporting.
With this strategic solution, firms can meet the demands of multiple regional and global mandates, including Basel III, liquidity reporting, the Dodd-Frank Act, FATCA, EMIR, COREP, FINREP, CCAR, FDSF, BCBS 239, IFRS 9, Solvency II and AIFMD, as well as market and credit risk management requirements. AxiomSL’s platform supports XBRL submissions natively.
AxiomSL has won the Customer Satisfaction category in the 2014 Chartis RiskTech100 rankings. It has also been recognized for its work with Morgan Stanley, which won the Best Reporting Initiative category in the 2014 American Financial Technology Awards for its use of AxiomSL’s platform.