FRSGlobal

Head of Regulatory Reporting / VP Regulatory Affairs

As a Head of Regulatory Reporting or a VP of Regulatory Affairs in a financial services firm, your position has never been more challenging. Today, you are expected to proactively understand, plan for, and manage all regulatory reporting activities across your enterprise, and this in a world of rapidly evolving regulation and stepped up enforcement activity. While your primary role is dealing with “back-office” regulatory reporting processes across all of the lines of business and all of the geographies that you do business in, you are also responsible for helping ensure that all of your ongoing activities fall within regulatory thresholds. You may also be involved in new product design--helping ensure that new products are built within appropriate regulatory constraints from day one. You are expected to advise lines of business and management on upcoming regulatory events and to help implement practical and compliant approaches. You may be asked to consult with regulators as regulatory changes are being proposed, and to discuss and clarify interpretation of regulations. Communicating with executive management and your Board is a top priority. Being proactive is a prerequisite to avoiding burdensome regulatory oversight and enforcement actions.

Key Challenges

As financial firms are pressured for higher performance, regulators increase their oversight, and you are asked to provide management with a deeper understanding of the implications of new regulations on your business, you may be experiencing some or all of these typical challenges:

• timely regulatory filings in all markets you serve
• ensuring the quality and integrity of regulatory reporting systems
• tracking proposed regulations, anticipating the potential impacts on your lines of business, and recommending regulatory programme changes where and when required
• proactively conducting internal regulatory program reviews and audits
• ensuring that lines of business embed regulatory compliance into their business processes, versus fitting it in as an afterthought
• proactively managing regulatory exams (preparation and outcomes)
• ensuring that data utilised in regulatory reporting is readily available, and is cleansed and normalised for reporting purposes across multiple lines of business and across relevant financial and accounting standards
• achieving high confidence in your regulatory reporting processes and outcomes
• supporting management requests for ad hoc reporting

How We Help

Wolters Kluwer/FRSGlobal recognizes the unique challenges of the Head of Regulatory Reporting and VP Regulatory Affairs. Our solutions are designed and proven enterprise systems, with over 15,000 customers worldwide. Specifically, we can help through all of these key elements of our product and service offerings:

• global expertise in compliance and regulatory reporting to supplement the expertise of your staff
• practical tools to track and monitor regulations globally, with hands-on recommendations on implementing best practices compliance programmes
• proactive monitoring of regulatory activities and enforcement actions globally
• support for the distribution of critical regulatory information internally
• support for timely and quality reporting to all regulatory bodies where you do business
• staff training, education, and certification to ensure your firm is effective in the markets served and meets regulatory thresholds and requirements
• cost effective products for monitoring critical areas of compliance (e.g. insider trading)
• the ability to tap into our base of over 400 regulatory, risk, and compliance experts for best practices and practical guidance and advice
• understanding and bridging the cross-over to operational risk programmes.

Next Steps

For more information, check out the Solutions section, or contact us for more information.