The Covid-19 pandemic has made Business Continuity Management (BCM) a priority now more than ever before, and corresponding requirements by supervisory authorities have already been in place for years, for example Guidelines on ICT and Security Risk Management by the European Banking Authority (EBA) or Technology Risk Management Guidelines by the Monetary Authority of Singapore (MAS) - but what does this mean for BCM in Regulatory Reporting?
Given current global market conditions, supervisors in Europe have tried to ease regulatory pressure on financial institutions in the short term, for example by postponing stress tests and Basel III finalisation, as well as new simplified regulations such as the Investment Firms Directive (IFD).
However, it doesn't seem to slow down the pursuit of obtaining better and more timely data to mitigate risks. In fact, we can expect that the current crisis will accelerate the shift towards more data granularity and near-to-real-time reporting.
We are also seeing massive strides being taken across the APAC Region, as regulators push for transformation towards more granular data reporting. Inevitably regulatory pressure on financial institutions will increase and standardisation, industrialisation and automation are logical ways of exploiting economies of scale across borders.
As a result, more and more institutions are taking the step of outsourcing important processes that are not part of a bank's core business, such as regulatory reporting. Outsourcing in the form of application management and operation as managed services or complete business process outsourcing can reduce IT operating costs and relieve the burden on personnel capacities.
In this webinar, our expert panel will discuss:
👉🏼What measures, in the area of regulatory reporting, are APAC supervisory authorities taking in reaction to the current crisis triggered by COVID-19 pandemic? What are the effects on financial institutions and the whole industry?
👉🏼Business continuity management in regulatory reporting
👉🏼Managed services in regulatory reporting and BCM: Challenges and opportunities
👉🏼What about IT Outsourcing? What does that look like? How to get started?
The key take-aways
What measures, in the area of regulatory reporting, are APAC supervisory authorities taking in reaction to the current crisis triggered by COVID-19 pandemic? What are the effects on financial institutions and the whole industry?
Business Continuity Management in Regulatory Reporting
Managed services in regulatory reporting and BCM: Challenges and opportunities
What about IT Outsourcing? What does that look like? How to get started?
This webinar is in partnership with
BearingPoint RegTech, a business unit of management and technology consultancy BearingPoint, is a leading international provider of innovative regulatory and risk technology solutions (RegTech and RiskTech) and services along the Regulatory Value Chain for financial services. Customers representing 6,000 firms worldwide, among them large international banks, a major part of the largest European banks, leading insurance companies as well as supervisory authorities and central banks, trust BearingPoint RegTech's products and services. BearingPoint RegTech works closely with regulators and, as a member of standardization bodies such as XBRL, actively contributes to the standard-setting process. BearingPoint RegTech combines regulatory know-how with proven, reliable and forward-looking RegTech solution suite, expert consulting capabilities, managed services and training seminars.
For more information, please visit: www.reg.tech