Meeting regulatory obligations
In recent years, banks and financial institutions have witnessed an unprecedented increase in regulatory reporting requirements both in terms of dimensions and complexity.
While regulators are primary stakeholders in this process, the quality of regulatory reporting and compliance is now a critical factor other stakeholders consider when basing their trust in the institution.
Solutions from StraitsBridge
At StraitsBridge, we provide financial services clients and their Finance functions support, advice and support to meet regulatory and compliance obligations. Our solutions assure their programs meet industry best practices and stakeholders’ expectations.
We can help CFOs and their Finance functions in achieving strong regulatory compliance and reporting capabilities.
Key reas of delivery
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Rising regulatory requirements
CFOs often struggle with the inability of their data systems to keep up with the requirements.
While this has often been addressed through deploying expensive resources for regulatory reporting, such as data extraction, manipulation and reconciliations, higher people costs, longer hours, an elevated risk of errors and missed deadlines remains a persisting challenge.
Attaining a robust regulatory and compliance framework that overcomes these challenges requires the CFO, in collaboration with the Chief Risk Officer and Chief Information Officer, to leverage deep understanding of both inputs and outputs in the process and effectively leverage the elements of people, technology, organization and processes.