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On Wednesday 22nd June Lombard Risk presented a new web-based version of its regulatory compliance software using a working example of the forthcoming December 2012 European Banking Authority's COmmon REPorting (COREP being the first obvious reporting manifestation of Basel III) at the British Bankers' Association in London. This event was the first of a series of 4 seminars on Basel III taking place between now and November: For more information and to REGISTER >>
Lombard Risk's new web-based regulatory compliance solution provides regulatory reporting, stress testing and scenario analysis, management / business information and collateral management on a fast, flexible and fully-integrated web platform. The new solution has been developed in direct response to the increasing and changing demands of global regulators for transparency and insight into firms' operations at a detailed level - and will enable firms to meet these requirements with confidence.
John Wisbey, CEO, Lombard Risk says: "The absolute key to modern regulatory reporting is to have the ability to react very quickly to regulatory change and to be able to deal with ad-hoc reporting requests whether from regulators or from senior management.
Our new, web-based solution suite deals with all these challenges as well as having the best user interface in the industry, excellent workflow, multi-level authorisation, and multi-language capability, all based on our tried and tested core engine and ETL tool which is used by more than 200 financial institutions around the world."
Nick Davies, CTO, Lombard Risk says: "Financial institutions leveraging our customisable workflow enabled solution will be more effective and efficient. Firms can immediately move from a reactive operational model to a proactive one with RAG status traffic light indicators representing regulatory processing Key Performance/Risk Indicators (KPIs/KRIs). This provides a higher return on investment (ROI) with improved data quality and reduced regulatory submission risk.
Using Lombard Risk's flexible data extract and data management tools and the philosophy of "extract once, cleanse once, use many", with a fully integrated web-based dashboard and reporting facility, further benefits are immediately available. Lombard Risk generates on-demand business intelligence data for operational and strategic purposes that supports timely decision making and makes use of exactly the same data that is used for regulatory submissions, therefore reducing reconciliation effort and risk."
The new Lombard Risk regulatory compliance solution suite comprises:
- Extremely efficient and flexible ETL functionality to integrate easily with multiple source systems
- Powerful business rules to validate data and create an accurate and clean repository of data for use and re-use
- Extensive regulatory compliance environment with monitoring, event-based workflow processing, automated reporting and submission
- Stress testing and scenario analysis, to meet liquidity and capital measurement requirements for example
- The ability to create ad-hoc management reports (and variations on mandatory regulatory reports) from the Lombard Risk data repository AND external sources
- Easy to use dash boarding capabilities
- Collateral management, now a key element of regulatory focus.
Lombard Risk's regulatory reporting web functionality adds to, and expands upon, the existing Lombard Risk regulatory installation. Rebecca Bond, Group Marketing Director explains: "We're not asking our users to 'throw the baby out with the bathwater'. All the investment that existing clients have made to date is safe because no existing installation or configuration needs to change. Simply, the new functionality delivers a web user experience for everything ranging from a user-defined validation to detailed workflow around the loading of data or the release of a return to the regulator."
About Lombard Risk - lombardrisk.com (London Stock Exchange: LRM)
Lombard Risk enables firms in the financial industry significantly to improve their approach to managing the risk in their businesses. Founded in 1989 and headquartered in London, Lombard Risk has offices in New York, Shanghai, Hong Kong and Singapore. Our clients include banking businesses - over 20 of the world's "Top 50" financial institutions - almost half of the banks operating in the UK, as well as investment firms, asset managers, hedge funds, fund administrators and large corporations worldwide.
The Lombard Risk solution suite is developed and supported by an extensive team of risk and financial experts and includes:
STB-Reporter® - regulatory reporting. The ideal solution for all automated regulatory reporting requirements. With full support for key supervisory computations including capital adequacy (Basel II and III), large exposures, and combined with LISA, provides a comprehensive solution for global regulatory reporting with the stress and scenario testing.
LISA® - scenario analysis and stress testing. LISA® satisfies latest liquidity risk management requirements and supports growing regulatory demands for timely and reliable information.
COLLINE® - collateral management. A highly sophisticated collateral management solution that facilitates efficient management and straight through processing of the entire margin call and reconciliation process.
The Lombard Risk software solution suite also includes OBERON® trade capture and valuation, Firmament® credit and equity valuation and STB-Detector® AML and customer due diligence.
Lombard Risk's new web-based regulatory compliance solution provides regulatory reporting, stress testing and scenario analysis, management / business information and collateral management on a fast, flexible and fully-integrated web platform. The new solution has been developed in direct response to the increasing and changing demands of global regulators for transparency and insight into firms' operations at a detailed level - and will enable firms to meet these requirements with confidence.
John Wisbey, CEO, Lombard Risk says: "The absolute key to modern regulatory reporting is to have the ability to react very quickly to regulatory change and to be able to deal with ad-hoc reporting requests whether from regulators or from senior management.
Our new, web-based solution suite deals with all these challenges as well as having the best user interface in the industry, excellent workflow, multi-level authorisation, and multi-language capability, all based on our tried and tested core engine and ETL tool which is used by more than 200 financial institutions around the world."
Nick Davies, CTO, Lombard Risk says: "Financial institutions leveraging our customisable workflow enabled solution will be more effective and efficient. Firms can immediately move from a reactive operational model to a proactive one with RAG status traffic light indicators representing regulatory processing Key Performance/Risk Indicators (KPIs/KRIs). This provides a higher return on investment (ROI) with improved data quality and reduced regulatory submission risk.
Using Lombard Risk's flexible data extract and data management tools and the philosophy of "extract once, cleanse once, use many", with a fully integrated web-based dashboard and reporting facility, further benefits are immediately available. Lombard Risk generates on-demand business intelligence data for operational and strategic purposes that supports timely decision making and makes use of exactly the same data that is used for regulatory submissions, therefore reducing reconciliation effort and risk."
The new Lombard Risk regulatory compliance solution suite comprises:
- Extremely efficient and flexible ETL functionality to integrate easily with multiple source systems
- Powerful business rules to validate data and create an accurate and clean repository of data for use and re-use
- Extensive regulatory compliance environment with monitoring, event-based workflow processing, automated reporting and submission
- Stress testing and scenario analysis, to meet liquidity and capital measurement requirements for example
- The ability to create ad-hoc management reports (and variations on mandatory regulatory reports) from the Lombard Risk data repository AND external sources
- Easy to use dash boarding capabilities
- Collateral management, now a key element of regulatory focus.
Lombard Risk's regulatory reporting web functionality adds to, and expands upon, the existing Lombard Risk regulatory installation. Rebecca Bond, Group Marketing Director explains: "We're not asking our users to 'throw the baby out with the bathwater'. All the investment that existing clients have made to date is safe because no existing installation or configuration needs to change. Simply, the new functionality delivers a web user experience for everything ranging from a user-defined validation to detailed workflow around the loading of data or the release of a return to the regulator."
About Lombard Risk - lombardrisk.com (London Stock Exchange: LRM)
Lombard Risk enables firms in the financial industry significantly to improve their approach to managing the risk in their businesses. Founded in 1989 and headquartered in London, Lombard Risk has offices in New York, Shanghai, Hong Kong and Singapore. Our clients include banking businesses - over 20 of the world's "Top 50" financial institutions - almost half of the banks operating in the UK, as well as investment firms, asset managers, hedge funds, fund administrators and large corporations worldwide.
The Lombard Risk solution suite is developed and supported by an extensive team of risk and financial experts and includes:
STB-Reporter® - regulatory reporting. The ideal solution for all automated regulatory reporting requirements. With full support for key supervisory computations including capital adequacy (Basel II and III), large exposures, and combined with LISA, provides a comprehensive solution for global regulatory reporting with the stress and scenario testing.
LISA® - scenario analysis and stress testing. LISA® satisfies latest liquidity risk management requirements and supports growing regulatory demands for timely and reliable information.
COLLINE® - collateral management. A highly sophisticated collateral management solution that facilitates efficient management and straight through processing of the entire margin call and reconciliation process.
The Lombard Risk software solution suite also includes OBERON® trade capture and valuation, Firmament® credit and equity valuation and STB-Detector® AML and customer due diligence.
