Helping a European Bank achieve efficiencies in daily LCR reporting across eight countries with outsourced solution
Client: Large European Bank
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Objective
To help a large European bank achieve efficiencies in regulatory reporting operations across Australia, Indonesia, South Korea, Singapore, Hong Kong, India, Switzerland, U.K. with an outsourced LCR Reporting Solution.
CRISIL's Solution
Leveraging its regulatory reporting expertise, especially pertaining to Basel norms, CRISIL developed a solution to manage the LCR reporting process across the eight countries from India.
The CRISIL process consists of:
Download validation checks on the report from AXIOM
Identify issues related to data and business logic
Raise errors to IT for a fix for day reporting
Identify errors that require adjustments in time needed for a fix
Build consensus with the stakeholders for adjustment posting
Post daily/monthly adjustments to errors
Review for analysis of day-on-day movements in HQLA, Cash flows
Pass commentary on day-on-day movements
Obtain Treasury Sign off
Upload daily LCR to AXIOM
Submit to regulators
Client Impact
Cost optimisation through reduced team size
Eight legal entities' LCR reporting managed by 6 FTEs leveraging the time zone difference
Reporting by highly technical team with strong experience in liquidity and regulatory reporting
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