Regulatory Reporting Insights on demand
PwC’s Regulatory Reporting Insights was born from the idea that complex regulatory reporting could be made more insightful for financial services professionals. Was a manual Excel-based analysis really the best way to audit and advise our clients? In 2018, Jeroen and Martijn, product owners, embarked on an innovation journey to help internal PwC teams solve this problem.
Together they worked on building a solution which would provide insights and was fun to use. One year later Regulatory Reporting Insights was born and the feedback has been overwhelmingly positive. We spontaneously received requests from clients to have access to the solution after they saw it in action. So we decided to make it available to other parties and increase digital trust in regulatory reporting within financial services.
"The solution helped us to identify new data quality findings in our regulatory reporting which we and the regulator hadn't spotted yet"
Our value proposition in the regulatory reporting value chain
CRO
Regulatory reporting is the way in which a wide range of risks you manage are disclosed to external stakeholders. This continuous process requires you to be flexible as it is subject to changes in regulation. The overload of data coupled with scarce resources and extensive manual work can lead to significant inefficiencies and concerns over your risk universe overview. This is why you need a helicopter view, transparency and clear insights into your figures and their data quality, to be able to comfortably sign off on regulatory reporting.
CFO
Providing your stakeholders with insights into financial and regulatory parameters and being able to benchmark that information with your peers is key for you. Collecting high data quality information to be able to operate in a fast paced environment drives your team’s performance. You are looking for a digital partner to help you increase transparency of key financial information in the company, and to ensure a consistent view on financial performance within and outside the organisation.
Supervisor
You need to be able to handle the huge data flow of regulatory reporting and keep abreast of emerging risks in the entities you supervise. To keep a level playing field you want to benchmark against similar entities. The current fast paced environment asks for a digital solution which is focused on your needs, where you can control the data quality of submitted regulatory returns, collect key insights quickly and explain your concerns visually to stakeholders.
How can Regulatory Reporting Insights help you?
PwC has developed this solution to build digital trust in the regulatory reporting value chain. It allows to add a layer of comfort on your data quality and to visualise the key information. This helps involved parties get insight into what they are producing and controlling which is valuable to small, medium sized and large financial institutions.
The solution has three main functionalities
- Data quality and consistency controls
- Based on different sources like EBA, EIOPA, ECB, IREFI and combined with PwC's custom developed checks.
- Dynamic visualisation of key regulatory reporting information
- Visualisation of several key aspects such as Solvency, Liquidity, Profitability, Credit Risk, Leverage, Large Exposures and Fair Value.
- Automated comparison on a cell-by-cell basis between two versions of the same type of report
- Possibility to consult online or to extract results in an Excel format.
What are the main benefits of the Regulatory Reporting Insights?
Trusted partner for both financial institutions and regulators
- More than 100 thousand data quality checks in the library and growing
- Visual insights into complex topics
- Usable for management understanding and reporting
User friendly and digitally secure
- 24/7 access from any device with an internet connection
- Secure access management
- No expert knowledge required
Adaptable to your needs
- Support from our regulatory reporting specialists
- New data quality checks, type of reporting and dashboarding can be added
- Can be used for UAT testing of new regulatory reporting production tool
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