Regulatory Reporting

Gap and Review

In the current banking climate correct regulatory reporting is the foundation for every successful institution. If your reporting is not correct, then your company will be under strict scrutiny from regulators. This can force your firm to focus on FSA questions when you could be concentrating on your core business. Incorrect reporting can also lead to reputational and monetary damage in terms of sanctions in the worst of cases. Thus, a company cannot afford to be negligent with its regulatory reporting.

In the ever-changing regulatory landscape, however, keeping your reports, such as COREP, FINREP and LCR correct and up to date can be very challenging. Regulations are constantly changing, becoming increasingly more difficult to interpret, and different regulatory bodies such as EBA and the FSA updates their viewpoint and recommendations continuously. Sometimes, the viewpoints and recommendations are even contradicting. FCG can help guide you in the regulatory jungle.

Our team can help you stay on top of your reporting. From our extensive knowledge of aiding institutions in all shapes and sizes we can help you interpret regulations such as CRR and IFR as well as offer valuable feedback of best practice on the market. FCG can provide you with a full review of your regulatory reports and give you a heads up of how coming regulations will affect your company’s reporting. Our services will make sure that your current reporting is of the highest standard and will help you rest easier knowing that the foundation for your institution is solid.

Support and Interim

Stay Prepared in an Ever-Changing Landscape

Within the world of regulatory reporting, it is always important to be prepared. If your company wants to stay ahead of the regulators, you must ascertain that your reports are correct and ensure that you have the necessary resources to produce your regulatory reports. You are always welcome to contact us at FCG.

FCG can provide support and interim solutions during hectic periods, audit your regulatory reports on an ongoing basis, and keep an eye out for upcoming regulatory change that will affect your company. Our services will ensure that your firm can handle any regulatory reporting obstacles that may come your way.

Reporting as a Service

Regulatory Reporting Managed

Stay on top. Regulators and supervisory authorities, such as the EBA, continue to evolve the regulatory landscape. Institutions are constantly playing catch-up and are forced to focus more on regulatory affairs, often leading to key person dependencies and high staffing costs, rather than on their core business.

FCG manages your regulatory reporting. Our team will take care of the whole reporting process, map your data, create the reports, and send them in after a sign-off from you. We can help you with all with everything from COREP and FINREP to liquidity reports. It will help your company keep up to date with the latest regulations from the EBA and the FSA, free up time, resources, and enable your company to focus on your core business. The process will be performed in close cooperation between FCG and your company, making sure you remain in control at all times. You will be doing what you are good at, and we will be managing your regulatory reporting. Thus, your regulatory reporting is now managed.

Analytics and Insights

Empower Your Decision-Making with Regulatory Data

Regulatory data requested from authorities is often very granular and difficult to gather. It is, therefore, our belief at FCG that it lies in every company’s interest to analyze the data gathered in each reporting period. Our solution will help you visualize the regulatory data in a structured and comprehensible manner by pointing out key ratios and figures in each report. Our solution will help you to assess and analyze what actually happened in your firm during the reporting period.

Decision-making is, however, not so much about the past, but more about the future. How should your company act to be more profitable or gain an advantage over your competitors? With the analyses and data provided by FCG based on your regulatory data, your company will be able to make better decisions that affect the future of your company. Maybe a specific product type is not very profitable for your company, or perhaps your interest rates are too low given the risk level of your counterparties. FCG will help you to identify the suboptimal parts of your business and empower your decision-making by using regulatory data.

XBRL Converter

The must have for institutions under the supervision of the FSA

– Made possible by a partnership between FCG and Parseport

XBRL is a global standard used for various financial reports such as FINREP, COREP, LCR and Fraudulent payments. The purpose of the XBRL format is to ensure standardized reporting in line with regulatory requirements as well as improve the quality of reported data. Since December 2020, with the introduction of EUCLID, all EBA reports need to be submitted in XBRL format to supervisors, companies that previously could simply tick a box for “nothing to report” or upload an Excel-file, now need to upload the respective reports in XBRL format.

Our XBRL solution

FCG’s XBRL Service is a passenger solution, which means that everything will be taken care of for you.

The FCG XBRL Converter lets you convert your files from almost any format into XBRL or iXBRL.

The FCG XBRL Inspector gives you the ability to read XBRL and iXBRL files prepared in CRDIV taxonomies.

The FCG XBRL API gives you direct access to our XBRL engine, where you will be able to performa all available functions.

The advantages of FCGs XBRL solution is that all EBA taxonomies and reports are included, there is no need to implement a specific software – you can simply run the add-in in Excel. You will receive an instant validation that gives you clear guidance on how to make any necessary corrections.

FCG offers a practical and direct solution to your XBRL problems at a competitive price. This service comes with the support of FCGs regulatory experts and has been developed by Parseports skilled software engineers, with a long and deep understanding of the XBRL format. Parseport are extensively experienced within the field of XBRL, providing their service to actors spanning from small firms to big banks in 14 counties. FCG has a long-term relationship with Parseport, starting as a client relationship and developing into a trusted business partner, providing a holistic solution both from a technical and regulatory perspective.

FCG offers a simple guarantee that your company will be up to date with the latest EBA XBRL taxonomies and regulatory reporting requirements.

If you want more specifics about XBRL and Parseport, click here

Want to know more?

Moi Brajanovic

Director

GRC Services

+46 72 179 49 50

moi.brajanovic@fcg.se
André Sahlin

Manager

GRC Services

+46 76 630 91 21

andre.sahlin@fcg.se

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