Automating Regulatory Reporting: The Path to Precision and Efficiency

In an era defined by data-driven decisions and strict regulatory scrutiny, regulatory reporting is more critical than ever for asset managers. However the traditional manual methods of regulatory reporting, which rely heavily on spreadsheets and manual data consolidation, are increasingly inadequate for the demands of today’s dynamic regulatory environment.

In this blog, we will explore how automation is reshaping the future of regulatory reporting.

The challenges of manual regulatory reporting

Manual regulatory reporting processes are plagued by several limitations. Integrating data from diverse sources with spreadsheets and manual SQL queries is time-consuming and error-prone. It also lacks the agility to keep up with rapidly changing regulations. Furthermore, the risk of inconsistencies and calculation errors may create compliance issues that could damage an asset manager’s reputation and financial stability. And as data volumes continue to grow, manual regulatory reporting processes struggle to keep up, increasing stress on resources and escalating costs.

A recent survey conducted by IVP delved into the practices, challenges, and perspectives of regulatory reporting, shedding light on the current regulatory reporting landscape and how automation could revolutionize the process. The results are instructive:

• 75% of respondents revealed a continued reliance on spreadsheets and manual SQL queries, indicating that traditional regulatory reporting methods remain deeply entrenched.
• 50% acknowledged making re-calculations due to data inconsistencies, underscoring the challenges inherent in manual regulatory reporting.
• 75% of respondents agreed that an automated solution could lead to cost savings and increased efficiency.

These findings highlight the need for automation in regulatory reporting. By reducing reliance on error-prone spreadsheets, streamlining data consolidation, and enhancing oversight, automation can help asset managers enhance efficiency, accuracy, and compliance.

Advantages of IVP Regulatory Reporting Solution

IVP Regulatory Reporting Solution is revolutionizing the regulatory reporting landscape, delivering a wide range of benefits for asset managers. Use this fully automated platform to:

• Streamline compliance with scalable processes and data aggregation for expansion into new reporting categories
• Ensure accuracy with data validation, outlier threshold checks, and multi-level reporting
• Understand calculations with instant drilldowns to underlying data
• Ensure alignment with peers using reporting methodologies developed in partnership with IVP clients
• Gain efficiency with universal data extracts that leverage the same data sets for reporting across diverse jurisdictions
• Centralize reference data and use configurable interfaces to add/modify data

IVP regulatory reporting experts covered many of these topics in depth during a recent webinar called “The Future of Regulatory Reporting.” The full webinar is now available to watch on demand.

Learn more about the IVP Regulatory Reporting Solution or contact us to schedule a live or online demo.