Daily LCR Reporting support across legal entities and geographies for a large European Bank
Objective
- A large European bank wanted to offshore their LCR reporting process to achieve efficiencies in regulatory reporting operations across Australia, Indonesia, South Korea, Singapore, Hong Kong, India, Switzerland, U.K.
CRISIL's solution
- CRISIL offered the customer manage the LCR reporting process from India leveraging our regulatory reporting exposure, especially pertaining to Basel norms.
- Validation checks on the report downloaded from AXIOM
- Issues identified – data related and business logic related
- Raise errors to IT for a fix for day reporting
- Identify errors that require adjustments due to time needed for a fix
- Build consensus with the stakeholders for adjustment posting
- Post daily /monthly adjustments to errors
- Review for analysis of day-on-day movements in HQLA, Cash flows
- Pass commentary on day on day movements
- Take sign off from Treasury
- Obtain Treasury Sign off
- Upload daily LCR to AXIOM
- Submit to regulators
Client impact
- Cost optimization through reduced team size.
- Eight legal entities LCR reporting managed by 6 FTEs leveraging the time zone difference
- Reporting by highly technical team with strong experience in Liquidity and regulatory reporting
Questions