Post the 2008 global financial meltdown, regulators across the developed markets are putting in strict regulations into place to prevent another economic depression. However, this has made things difficult for banks, insurance firms and financial services firms as considerable amount of time, money and energy is begin spent on regulatory compliance and reporting. An end-to-end solution that automates regulatory reporting can be a game changer, HCL’s PoV.

1. Technologically Driven Regulatory Compliance
How Companies can Automate Regulatory
Compliance Reporting in a Cost Effective Way

2. Key Regulatory Compliance Reporting
Challenges
Increased costs
Data Quality
Data Adequacy
and Enrichment
Skill Capacity
Enhancement
Strict Deadlines

3. Constructs of a Regulatory Reporting
Factory Framework
Stakeholder Interaction –
Bring internal and external
stakeholders on a single platform
to facilitate better information flow
Governance and Control –
Define standards and policies
that are acceptable by
all stakeholders
Report Development
and Production –
Synchronize internal stakeholders
and third-party vendors (if any)
on output requirements
Data Management –
Data cleansing and
Standardization that meets
regulatory requirements
Close –
Audit, consolidate and
deliver completed reports

4. Benefits of Regulatory Compliance Reporting Factory
Provides analytics to
refine and improve
current capabilities
Enables to identify
processes that can be
done by external vendors
Set control points for key
performance indicators and
service level agreements

5. Questions –
What are the major challenges faced by banks in
regulatory reporting?
Which critical aspects of regulatory reporting are often
overlooked by banks?
During regulatory reporting and compliance, how critical is
data cleansing and standardization?
How can regulatory reporting be automated?
What are the benefits of outsourcing regulatory
compliance and reporting?
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