Email Contact Phone Company Visit Website

Dublin, Ireland Office Head Office

65/66 Lower Mount st
Dublin
IE

Belgium Office

Kleine Kloosterstraat 23
St-Stevens-Woluwe
BE

The Netherlands Office

De Entree 234a
Amsterdam
NL

Telephone

0035316624233

Contact

Wolters & Kluwer In
[email protected]

OneSumX Regulatory Reporting

Improve accuracy, timeliness, quality, and efficiency of your Regulatory Reporting requirements with OneSumX.

Today, financial institutions are confronted by more assertive and aggressive regulators and wider and more intrusive rules. Banks, insurance companies, fund managers and other financial firms face tough and challenging times.

As regulatory policy initiatives continue to be presented in jurisdictions around the globe, the volume and complexity of reporting that firms need to complete is increasing. As a result, resources are being stretched to meet the new requirements. Keeping ahead of the changes, and the increasing demands of the business is becoming a significant challenge.

Financial institutions need to submit a wider range of information to their regulators than ever before. The depth and detail of information required is also greater. In addition, the new rules have created more statutory and regulatory limits to which firms must adhere, that often require them to prepare working versions of regulatory submissions frequently, to ensure that they continue to operate within their prudential limits.

The greater the number of reports firms must submit, the greater the likelihood of errors, mistaken submissions and misunderstanding of reporting obligations. All of this leads to added pressure for firms to reconcile requirements needed to ensure perfect alignment between finance and risk reports, both for internal use and externally for regulators. Falling short of what is required can invite reputational damage, regulatory sanctions and in some cases financial penalties. In short, it has never been more important that financial institutions get regulatory reporting right.

OneSumX Regulatory Reporting, part of OneSumX for Compliance, uses a single source of data to ensure consistency, reconciliation and accuracy.

  • Regulatory update service (RUS)
    Additionally, we actively monitor regulatory changes and provide updates within regulatory update service (RUS) allowing firms to rest assured that they are meeting the ever changing regulatory requirements at all times. Our experts actively monitor and analyze regulatory changes in approx. 50 countries worldwide, helping firms to ensure compliance on an ongoing basis.
  • A global and local view
    Cover for approximately 50 countries ensure availability on a global level, providing support to customers across multiple jurisdictions.

    Local domain expertise with in depth subject knowledge and connections into the local regulators that overcome language difficulties while maintaining gobal consistency.

  • Full insight into data
    Full audit trail, drill-up and drill-down to underlying data,/ variance analysis, etc. as part of the runtime engine ensures ease of analysis, identifies errors and provides proof of quality. OLAP and dashboarding provides essential information that can be broadcast across multiple audiences in a graphical and tabular format. Being a visual aid, this is particularly effective for an instant view of a firm’s financial reporting status.
  • Workflow management
    The solution offers both user workflow management that monitors and determines the process from start to finish and data workflow management automating loading of data, execution of calculation processes and preparation of the reports thus preventing hold ups and errors but ensuring timeliness and accountability.
  • Dual control/four eyes principle
    Once a user makes a change, a line manager will be required to review and approve it. This assigns accountability and prevents changes going unnoticed and/or forgotten. Each line manager is provided with a personal sign-off list where they can approve or decline changes.
  • Reliable delivery
    Accurate submission of regulatory reporting that includes report level validation rules and electronic delivery (XBRL, XML etc.) where applicable.

View other products from Wolters Kluwer

Data Management

The data layer provides a single, integrated data repository for multiple use-cases across finance, risk and regulatory compliance as well as other functions. This approach aids in establishing a standardized approach to regulatory and client reporting across different countries and regimes that firms are active in. At the heart is a robust data model that …

OneSumX Suite

OneSumX provides an ecosystem of complementary and comprehensive solutions and services to manage the intersection of governance, finance,  risk and compliance—increasing organizational profitability, efficiency and growth. The crisis has forced firms to take revised look at their internal governance procedures and approach to risk management. Financial institutions are strengthening these processes and are giving them …

OneSumX Performance Management

The OneSumX solution suite addresses the different performance management requirements needed to facilitate operational, analytical and strategic decision-making processes. Financial institutions are under increasing pressure to provide transparent information to different stakeholders. The finance function is often being reshaped by external pressures into an efficient machine, with a need for high-tech components and finely-tuned steering. …