Regulatory Reporting Overview
Ongoing rapid regulatory change and a complex market dynamic present significant challenges for financial institutions’ operating models, analytics and reporting capabilities. As regulators begin to export compliance regulatory requirements downstream to smaller banks as well as buy side firms, these entities will be keenly scrutinizing the pioneering risk data aggregation and integration processes as potential best-practices that can be scaled to their sizes and adapted to specific jurisdictions’ regulatory requirements.
ControllerView (CV) delivers data lineage, risk aggregation, workflow automation, validation and audit functionality and supports disclosures in multiple formats, including XBRL. These features support data and process governance and seamlessly integrate clients’ source data from disparate systems and geographical locations without forcing data conversion. The high-performance platform transparently aggregates clients’ data from multiple siloed systems, enriches and validates it to any level of granularity, and then runs the data through relevant calculations and populates the reports.
ControllerView Data Flow Diagram
Regulatory Reporting Functionality
Automation – The increased volume and granularity of data needed to support risk aggregation as well as greater frequency of reporting means that workflow automation is a necessity. ControllerView automates analytics and reporting workflow end-to-end, including all data collection, enrichment, and management, as well as all calculations, processes to final report submission.
Change Management – Visual Business Rules – Tool for handling ongoing change in regulation or business requirements without the need for programming expertise. AxiomSL’s, pioneering visual data modelling and business rules tool, enables users to make even the most complex adjustments to processes in response to changes.
Dashboards – Web browser dashboards can be used to present information and manage processes, such as analysis, drill down and sign-off.
Data Lineage and Transparency – AxiomSL’s agnostic data-driven platform retraces the journey of the source data through every single workflow processes or calculations across siloes systems all the way to disclosures.
Drill Down and 100% Auditability – Every step in the data collection, enrichment and consolidation is tracked and recorded, including all comments. This enables FIs to drill down from any output to the underlying data and processes involved in creating this output. This entire process can be viewed by regulators and internal and external auditors.
Electronic Submission – Supported for all regulators globally in all required formats, including XBRL, XML or other file-based electronic submission. Will also connect directly to regulators’ web services where available for submissions.
Flexibility to deal with any level of Complexity – ControllerView can handle the flow of information particular to a client’s organization, such as specific Key Risk Indicators (KRIs), syntaxes, data taxonomies and process operating models. Further, as demands like BCBS 239 require near-constant fine-tuning to address data governance, Controller View’s Visual Business Rules enable adjustments to regulatory and management changes with its out-of-the-box configurability and slice-and dice of data.
Global Coverage for all Current Regulations – Basel III, Liquidity, BCBS239, Dodd Frank, FATCA/CRS, EMIR, MiFID, MAS, etc.
High Volume, High Performance and Reliability – Scalable and resilient architecture can handle all volume and performance demands. Reports can be produced at any time interval to meet internal and external requirements.
Leveraging Data and Processes – All data, calculations and other processes defined for one purpose are stored and can be reused wherever required to address new regulations and internal management reporting. It ensures consistency, reduces total cost of ownership (TCO) and accelerates responsiveness.
Pre-submission Review – Multiple report writers allow users to review reports in various formats before submission, with the ability to drill down and make manual adjustments where necessary.
Security and Control – The ability to define granular data and process permissions for hundreds of users provide a completely controlled and secure environment.
Regulatory Reporting Features
Automates complex workflow process enabling users to review results and ensure accuracy
Delivers global coverage of reporting templates with timely update services
Provides comprehensive views of financial information on entity and consolidated levels
Enables business users to analyze each report on-screen line by line, providing comprehensive transparency
Aggregates data to view detail by any grouping criteria, such as Branch, GL accounts, etc. Allowing to view data on transactional trade or positional level at any point of the analysis
Delivers transactional level disaggregation, allowing users to drill-down into the data at any level of granularity
Multi-level sign off – hierarchies can be defined with automated alerts to the next level after signing off
Regulatory Reporting Benefits
Customizable Data Storage
Allows data to be maintained internally or loaded from an external source
Adapts to changes across institutions, geographies and jurisdictions without systems re-engineering, reducing implementation times
Through drill-down capabilities supports instant verification of aggregate numbers down to individual accounts
Preview of Results
Enables to analyze and adjust reported facts to ensure accuracy prior to submission
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