ReportBuilder has been developed in direct response to the Basel requirement for banks to create both internal (management) reports and external (regulatory) reports from the same data source and the move towards non-standard, prescriptive-style reporting advocated by the UK Financial Services Authority (FSA).
FRSGlobalâs REPORTINGCentre is a complete regulatory reporting solution, consisting of a risk and regulatory data model, DataFoundation, and ReportGenerator that currently covers regulatory reporting for 30+ countries. The newest addition to the REPORTINGCentre, ReportBuilder, is a user-friendly tool for non-technical business users to define and create new reports for production by ReportGenerator, without any coding being required.
Financial institutions moving in to new countries or jurisdictions will be able to use ReportBuilder to define their own regulatory reports. Business users will also be able to create custom internal reports for a wide range of purposes such as management, head-office and profitability reports.
Utilising data stored in DataFoundation ensures that a bankâs internal reporting is in line with the regulatory, external reporting and therefore guarantees a âsingle version of the truthâ â a key requirement of Basel II, Pillar 2. Further to the subprime crises, Basel II stresses that risk information presented to regulators, senior management and to the markets must be consistent.
Kieran Leahy, SVP Product Management at FRSGlobal comments: âThis is a significant step forward having ReportBuilder as part of our offering. It gives users the flexibility to react to the market place quickly; it is easy to use and produces high quality results. This is exactly what the Basel II Pillar 2 requirements demand.â