How ALM Partners Transformed a Longstanding Client’s Compliance Process?
BACKGROUND
- ALM Partners’ longstanding balance sheet management customer wanted to renew its regulatory reporting solution and process.
- The Client Bank had recognized ALM Partners’ ability to handle complex data management issues while simultaneously ensuring regulatory compliance.
- Client Bank selected ALM Partners as their Regulatory Reporting service provider encompassing the following key areas:
- Building a Regulatory Reporting datamart based on ALM Partners’ CRDM risk reporting platform.
- Developing the existing ALM Partners’ Regulatory Reporting solution to cover all of the bank’s Regulatory Reporting needs.
- Providing a Regulatory Reporting service covering everything from extracting the data from the client’s DW to filing the reports to the regulator, freeing the client’s resources to focus on core tasks.
ALM PARTNERS’ SOLUTION
- A turnkey regulatory reporting platform with its Regulatory Reporting datamart (CRDM) and related reporting solutions.
- Implementation of transparent automated data quality assurance routines from source systems to RegRep Datamart all the way to reporting tools.
- ALM Partners operates the standardized processes with its team of on-call experts who truly understand the client’s business and can support the client 365 days a year.
- ALM Partners’ client fronting team and extended organization is available to develop the service as needed and when new requirements arise.
The Story:
Client Bank, a longstanding customer of ALM Partners, faced a significant challenge. Their regulatory reporting solution was outdated and inefficient, requiring a complete overhaul to meet modern standards and regulatory requirements. Recognizing ALM Partners’ expertise in handling complex data management and ensuring regulatory compliance, Client Bank decided to partner with them for this critical project.
ALM Partners stepped in with a comprehensive solution. They built a Regulatory Reporting datamart based on their CRDM risk reporting platform, ensuring a robust foundation for all regulatory reporting needs. The existing solution was further developed to cover every aspect of the bank’s regulatory reporting requirements. Additionally, ALM Partners provided a full-service solution, handling everything from data extraction from the client’s data warehouse to filing reports with the regulator. This allowed Client Bank to focus on their core tasks without worrying about the intricacies of regulatory reporting.
The implementation of ALM Partners’ turnkey regulatory reporting platform brings numerous benefits to Client Bank. The client estimates approximately 30% savings compared to their previous solution and operating model. The built-in data quality assurance procedures and the CRDM data model as a single source of truth ensured reporting efficiency through inherent reconciliation between regulatory reporting lines. Moreover, utilizing same datamart for both regulatory and ALM reporting ensures consistency between operational business reports and regulatory reports, thus eliminating the threat of having to explain inconsistencies to the regulator. ALM Partners’ maintenance and support of the bank’s Treasury, ALM, and RegRep also ensures synergies and compatibility between different solutions.
Moreover, Client Bank retains full insight into data, computations, and results without having to dive deep into the complexities of ETL or solution configuration. They receive regular updates from ALM Partners on upcoming regulatory changes and accepted interpretations, ensuring they are always compliant. The entire process is hosted in the bank’s own cloud, giving them full control over data, the solution, and the process. The transparent SQL routines and clearly documented processes provides full data and solution transparency, eliminating any concerns about vendor lock-in.
The success of this project, combined with ALM Partners’ longstanding business in cash flow reporting services, encouraged Client Bank to further collaborate with ALM Partners. They subsequently selected ALM Partners to implement a new Treasury system and relevant EMIR-reporting, solidifying a partnership built on trust, efficiency, and innovation.
