As financial services firms meet the demands of regulatory requirements, can they also uncover unexpected benefits from compliance? FTF News asked Maryse Gordon, senior pre-sales for UnaVista, part of the London Stock Exchange Group (LSEG), just that.
Gordon spoke to FTF News during the DerivOps North America conference in Chicago last month. The event featured her presentation “Finding Opportunity with Regulatory Reporting.”
For firms to see the potential benefits that come from regulation means that they are focusing more energy on the reporting obligation. They can also make the most from the reporting regimes that also command their attention, Gordon says.
“Firstly, they can look internally at the data they’re collecting,” Gordon says. “There are a vast number of regulatory reporting regimes out there and firms are looking at consolidating that into a single process and effectively consolidating that into a single platform. They can then start to analyze how they’re doing as a firm. They can potentially look at certain types of activity and see where they need to make certain types of improvements.”
Firms could use the rigors of regulatory reporting to generate operational efficiencies such as reducing the time firms or users take for exception management, Gordon says. Firms can also get a better idea of where they stand among their peers.
“So, do you rank top of the chain when it comes to high levels of accurate reporting? Are you in the middle of the pack? Is that where you want to be? Or do you need to make improvements because your benchmarks are quite low versus your competitors?” Gordon asks.
Click here to check out FTF’s annual DerivOps North America conference! This conference includes discussions on the current state of collateral management, clearing, counterparty risk, SEFs, security-based swaps, derivatives data, derivatives reconciliations, derivatives trading, FCMs, regulation and other topics related to derivative operations and processing.
Also click here to learn about FTF’s CMD Ops 2017 conference (collateral, margining, derivatives) to get the latest on the overlapping complexities of derivatives operations and collateral management. At this one-day conference, FTF will breakdown the challenge via industry experts, market participants and problem solvers who will delve into the burdens of “derivops” and the wise use of collateral.
CREDITS:
Video Production: Janene Knox and William J. Poznanski, Jr.
Interview conducted by: Eugene Grygo, chief content officer, FTF News
Co-Producers: Sarah Hathaway, vice president, Financial Technologies Forum (FTF) and Eugene Grygo
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