Category Archives: Regulatory Compliance

Innovating Business Through Data: Part 8 – Digital Compliance

Part 8: Digital Compliance

This new series focuses on how Machine Learning, Natural Language Processing, and Robotic Process Automation are changing the face of business. Each post contain a specific use case, the business value derived, and the technology synopsis to achieve the outcome. Continue reading Innovating Business Through Data: Part 8 – Digital Compliance

Opportunities Across Financial Services Critical Compliance Areas

Although Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations have been around for some time, firms still struggle with effectively operationalizing their organizations in a manner which is both regulatory compliant, as well as customer-friendly. Continue reading Opportunities Across Financial Services Critical Compliance Areas

Infographic: BCBS 239 Checklist

Released in 2013, the principles covered in BCBS 239 are the global de-facto benchmark for risk data governance, aggregation, and reporting. Organizations gain a clear advantage when they adapt rapidly to new regulatory requirements like these. Continue reading Infographic: BCBS 239 Checklist

MRA Digital Responses for Financial Services Companies

Receiving an MRA (Matter Requiring Attention) from a regulator is the start of a series of painful headaches for any bank. Unfortunately, they are more common than ever, as governments and agencies of all sizes are “getting in on the act” of regulating financial institutions. What’s more, today’s failures carry harsher penalties with the increased use of punitive fines to drive compliance. Continue reading MRA Digital Responses for Financial Services Companies

Case Study: Digital Regulatory Monitor Reduces Burden of Regulatory Process for Global Financial Services Firm

Client: A global financial services firm that provides a wide range of financial products and services to institutional investors. The firm operates in approximately 100 geographic markets worldwide and was named by the G-20 as one of the world’s 29 systemically important financial institutions (SIFI) that must meet all conditions of the Basel III accord, among many other federal, state and foreign regulations across the globe. Continue reading Case Study: Digital Regulatory Monitor Reduces Burden of Regulatory Process for Global Financial Services Firm

Knowledgent Releases Digital Regulatory Monitor Free Trial for Financial Services Companies

Knowledgent, the data and analytics firm, proudly announces the release of their Digital Regulatory Monitor (DRM) solution and a free 24 hour trial available at digitalregulatorymonitor.knowledgent.com. DRM is the next-generation solution in enterprise-wide regulatory compliance management for financial services. Continue reading Knowledgent Releases Digital Regulatory Monitor Free Trial for Financial Services Companies

CCAR: Comprehensive Capital Analysis and Review

The 2008 financial crisis exposed a number of critical weaknesses within the banking industry. Not only was the industry overleveraged and overexposed to a bubbling real estate market, but many banks also had a limited ability to effectively identify, measure, and control their risks and to assess their capital needs. Case in point, the continued capital distribution (e.g., dividend payouts) by many large Bank Holding Companies (BHCs) only highlighted the lack of required insight into stress conditions and its effect on a bank’s financial soundness (even after a substantial deterioration in the economic and financial markets). Continue reading CCAR: Comprehensive Capital Analysis and Review

BCBS 239: Next Steps on the Road to Compliance

In January 2015, the Basel Committee released and published the results of a second self-assessment by the Global Systematically Important Banks (G-SIBs) in adopting the BCBS 239 principles. In that report and in my last post, I noted that 46% of the G-SIBs stated they would not be fully compliant with all 11 Principles by the 2016 deadline. This was up from 33% as reported in the first self-assessment in December 2013.

Continue reading BCBS 239: Next Steps on the Road to Compliance

Case Study: How a Global Banking Institution Deployed a Reference Data Management Program to Become a Dodd-Frank Thought Leader

Challenges

In response to the Dodd-Frank Act, our client, a global banking institution, sought to establish a program that would implement changes to their reference data management systems in compliance with the new regulations, including the Legal Entity Identifier, Swaps Data Reporting, Business Conduct and Trade Controls reporting requirements.

However, our client lacked the requisite resources and expertise to fully deploy this program. They engaged Knowledgent for our experience in regulatory compliance, participation in SIFMA and ISDA industry working groups, and leading-practice capabilities in gathering requirements and implementing reference data technology. Continue reading Case Study: How a Global Banking Institution Deployed a Reference Data Management Program to Become a Dodd-Frank Thought Leader

BCBS 239: On the Road to Compliance

It was a little more than year ago when the Basel Committee of Banking Supervision (BCBS) released the results of a mandatory self-assessment by all 30 Global Systemically Important Banks (G-SIBs) on their progress with BCBS 239. The intent of the self-assessment was simple. The Basel Committee wanted the G-SIBs to establish a baseline and define a roadmap towards compliance. Furthermore, to ensure a consistent and effective implementation of the principles, the Committee instituted a coordinated approach with national supervisors to monitor and assess the G-SIBs progress right up to forthcoming January 1, 2016 deadline. Continue reading BCBS 239: On the Road to Compliance