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eNewsletter Spring 2021

A recent publication by the EU Banking Union shows that the reforms of the Basel III standards aim at reducing excessive variability in risk-weighted assets (RWAs) and improving the comparability and transparency of banks. To that end, the reforms notably include an “aggregate output floor”, which means that banks using internal models to determine the amount of RWAs may only deviate to a certain extent from the amount calculated by the standardised approach.

Another study demonstrates the effects of COVID-19 crisis for banks are not additive to the effects of implementing Basel III. Following such changes and managing the various effects of the pandemic, banks are called upon to manage and estimate their risk whilst managing regulatory reporting with accuracy and transparency.

With these in mind, it is time for risk management departments to further elaborate on what systems they are using and how these comply with the modern market needs to help them calculate risk and generate regulatory and management reports whilst developing the mechanism to deploy the framework needed to meet the challenges for automation, risk migration and transparency across operations.

In addition, with the regulation of CRD II, Basel IV and more coming up most of the financial institutions' legacy systems have to be modernised to provide a holistic view through different digital channels, using different sources to produce powerful reporting.

Regulatory reporting besides being a need it can also be a significant source of information to define a strategy that would offer painless operations. Modern platforms offer seamless integration with various IT systems, centralisation of data for better management and automated end-to-end regulatory reporting leading to improved data reconciliation, aggregation and standardisation. These require a system that has been built on scalable and modular architecture.

RiskAvert is the robust risk management solution that assists Financial Institutions to gather and reconcile data, calculate, aggregate and report regulatory credit, market, operational and concentration risk in a natively integrated, yet modular environment. It fully covers Pillar I requirements, Liquidity Risk, Large Exposures and Leverage Ratio.

Profile’s RiskAvert has been implemented in a number of institutions to help them experience automation and powerful reporting. Click below to find out more on how you can improve your risk management processes.

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