Regulatory Reporting As a Service (RRaaS)

Risk and Regulatory Compliance

Business Problem

Trade Data, Collateral Data, Reference Data, Legal and Market Data feeds are collected from various golden sources.The legacy applications and technical debt makes capturing, transforming, aggregating and reporting difficult - this in turn impacts the ability to generate reports and report to regulators in a timely manner

"Helping banks efficiently address their global regulatory reporting requirements."

Solution

  • As regulations become more complex, buy and sellside firms are looking for partners who can help them address requirements across various jurisdictions, with the necessary workflows and data structure that allows firms to maximize overall accuracy and completeness in their regulatory processes.
  • Atyeti built a regulatory reporting system incorporating a robust automation framework to ingest and process data received from multiple source systems.
  • The data is converted, validated, enriched and aggregated through a Transformation Service and stored within a data warehouse
  • Dedicated services interact with the Data Sources to fetch data from the data sources and version them.
  • A reporting service is then called to send the data to one or more Trade Repositories (TR).
  • Responses are received from the TRs and consumed through two services: Compliance/Archival services and Reconciliation services.

Regulatory Reporting

    CAT: Built a 100% automated Consolidated Audit Trail system to ingest, report and reconcile 30 Million messages per month with a 90%+ ack rate

    SFTR: Built an automated reporting system that ingests data from 22 different Trade, Valuation, Collateral, Margin and Reference sources and reports out to 2 external Trade Repositories (Markit and DTCC)

    MiFID II: Built an automated compliance solution that seamlessly connects to customer trade records, enriches the data, allows for business logic to be applied where required, validates trades and reports directly to an ARM. Event Information is made available in real-time via an intuitive analytics dashboard and alerts of any noncompliance

    QFC: Built a reporting system that ingests and links together source data from 13 upstream transaction, reference data, valuation, collateral and legal systems to populate 8 separate reporting tables containing 128 data fields. Data is intricately linked togetherto provide an accurate representation of overall QFC obligations and retrievable within 24 hours of being requested by FDIC.

    SEC SBSR: System has been developed and put into into production on time.

Result

  • The Applications are 100% fully automated and support 10+ global jurisdictions covering 13+ source systems, 20 asset classes, 140 different trade types and 1,000+ Reporting eligibility rule.
  • The solution went live within 6 months and has reduced their annual spend through a managed service agreement with Atyeti.
  • The RRaaS has been configured to onboard new Financial regulation in a seamless manner.