Date post: | 01-Dec-2014 |
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C5 Alliance Group LimitedSimplifying Regulatory Reporting using Microsoft
Platforms
Dan Hare
Director, Head of Business Intelligence
Aonghus Fraser
Head of Process & Platforms
Our Mission
Agenda
Regulatory Reporting background
A platform-based strategy
Adding value via Regulatory Reporting
projects
Demonstrations using latest versions of
platforms
Future
Q&A
Our Credentials
Experience
Over 7,000 Business Solution projects delivered
120 IT Services contracts maintained
Infrastructure
170+ staff across the Channel Islands
First, second and third line levels of support 24x7x365
Business Continuity , Hosting and Hybrid Clouds
Qualifications
ITIL V3-based operations & procedures
ISAE3402 Level 2 accredited managed services
Microsoft, HP, Citrix and Vmware accreditations
Cloud Centre of Excellence
Our Partners
C5 Alliance
Group
Our Mission
To improve our clients’
businesses,
our workplace, our industry and
our community through the
innovative use of technology.
The C5 Alliance Group Limited
IT Services
to run your
business better
Business Solutions
to deliver your
business advantage
Bespoke
Development
Project
Delivery
Technical
Solutions
Tailored
Training
Business
Intelligence
Process &
Platforms
Business Solutions
to deliver your
business advantage
Business
Solutions
IT Services
to run your
business better
Incident
Management
2nd & 3rd
Line
Support
1st
Time Fix
24x7x365
Support
Hybrid
Solutions
Security
Patching
ITIL V3Business
ContinuityHosting Cloud
Support
End-of-Day
Checklists
Server
Management
IT
Services
You
Customer Engagement
Our History
1999 founded as ‘Contract 5 Limited’
2001 delivered Lloyds TSB internet banking
2008 rebranded as ‘C5 Alliance Limited’
2009 secured Microsoft MCITP Enterprise qualifications
2010 launched new www.gov.je website
2011 opened new Guernsey Office
2012 achieved Microsoft Gold Business Intelligence -
highest level of proficiency awarded by Microsoft
2012 acquisition of Cronus Limited, a local IT solutions
company
2013 acquisition of Itex Holdings Limited, in Jersey,
Guernsey & the Isle of Man, enabling us to
provide both reach and depth
Organisation
Firms
Consumer-citizen-client
Industry Associations /
Standards
Legal Interfaces
Suppliers
GlobalRegulators
Central GovernmentPoliticians, Treasury, Auditors
Auditing
International Reporting
Data Protection
Employee Legislation
Security
Industry Benchmark
Company Reporting
Annual Reports
CSR
Due Diligence
Internal Reporting
Operational Effectiveness
Health and Safety
Reputational Value
Tendering
Relationship building
Going Concern
Risk Reduction
Regulatory
Reporting ;
Quantitative
AIFMD
FATCA – US and UK C5 White Paper
New clients from July 2014, high net worth
existing clients by 2015
Solvency II
Basel II and III Prudential Reporting
Liquidity Behavioural Adjustment
FSA 47/48 liquidity reporting
Regulatory
Reporting ;
Qualitative
AIFMD
Solvency II
Client Due Diligence & KYC
EU AML Directive
Retail Distribution Review
Personal Questionnaires
Records Management/ FOI
Policies, Procedures and behaviour
monitoring
Stolen From KPMG presentation
“Financial Services of the Future …..”
A Common Scenario
Regulatory Reporting is highly manual
Paper or spreadsheet based
Data is always out of date with only
periodic refreshes
Changes in circumstance requires manual
workflow
Each regulation takes similar time and cost
to implement
New regulation requires headcount
Organisation focuses on reporting on
clients rather than servicing them
The Platform-based
Strategy
Reduce Risk
Single Version of the Truth
Self service reduces transcription risk
Remove manual entry and end user
computing
Scalable checklist based approach
Build and visualise hierarchies and
relationships
Activity trail for internal and external audit
The Platform-based
Strategy
Reduce Cost
and Add Value
Invest in platforms rather than wasting
money on changing and testing unsuitable
legacy systems
Self Service with familiar tools for internal
and external customers
Bring Your Own Device
Simplification
Cost reduction
Scalable platforms for growth
Workflow and queue based practices allow
insourcing and outsourcing
Platform architecture
Data warehouse using
Consolidation of data to create
enable data analysis and create adaptable reporting solutions
Source System
1
Flat
Files
Source System
2
Load
Import
Transform
Validate
Map &
Normalise
Extract
Load
Dimensions
and Facts
Present
Cube for
BI/KPI and
Self-service
reporting
Regulatory
Reporting
Dashboards
And
Boardpacks
Self service
Excel Analysis
Enriched data in
CRM is synchronized
back to the data
warehouse
Self service reporting
using built in
Reporting portal
Synchronized with
SharePoint to
drive workflows
and collect input
Excel
Spreadsheet
100%
90%
80%
70%
Source Consume
AIFMD
What is it?
• Alternative Investment Fund Manager
Directive• Teresa Brandts-Giesen C5 White Paper
• Implemented 22 July 2013
• Aims:• Monitor and Supervise Risks to protect
investors
• Strengthen AI Market
• Affects the management and marketing of
AIFMs & AIFs in EU
• Six sets of requirements for EU passport :• Authorisation• Conduct of Business• Operations• Reporting• Marketing• Depositary/Custodian
AIFMD
For Non EU
Non EU Managers initial requirements :
Transparency and Reporting
Market in EU via National Private Placement Rules
( NPPRs, bilateral)
Final Reporting Guidelines – complex !
Portfolio concentration: by investment strategy,
principal markets/instruments, value and turnover
Risk measures, liquidity and leverage of the AIF
Exposures, leverage and Value At Risk
Vega, net FX delta, and commodity delta, DV01
and CS01
C5 Jersey Client Proposal
Data in existing database
“Challenging calculations” like VaR, Greeks (δ, γ,
θ, σ …) calculated in MatLab
Self Service reporting using SharePoint and Excel
Simple user interface
Automated reporting
FATCA
Dates 1st July 2014 - Collect tax relevant information
for new clients
31 Dec 2014 - High net worth clients (> $1m)
reviewed (“remediation”)
USA Wide range of information (“indicia”) required
Complex aggregation rules
UK Report one year later
Simplified indicia focussing on Tax Residency
Non Domiciled Resident Alternative Reporting
Regime
No recalcitrance or with-holding…just prison
Next ? UK is first of many IGA’s with Crown
Dependencies in EU5/G20 pilot
C5 Alliance
FATCA Experience
Major insurer Guernsey – multiple phase
engagements
Requirements Analysis
Data warehouse
CRM implementation
Major UK Bank Jersey – multiple
engagements
Requirements Analysis early 2012
Project Management to date
System enhancements
Infrastructure build
Test co-ordination & performance
Major Euro Bank Jersey – multiple
engagements
Requirements Analysis
System Enhancements
Demonstration: FATCA
reporting using CRM
2013 and data
warehousing
Lightly customised CRM interface to
update FATCA specific information
Automated data from 7 legacy source
systems – very hard and expensive to
change
Report from data warehouse, updated
daily from source systems and CRM
Assist clients Store full client history and audit trail
Manage updating incomplete information
Suggest classifications
Record decisions, 4 eyes if necessary
FATCA Platform – Opening Dashboard
FATCA Platform – Entity Views
FATCA Platform – Role based screens, read/write
FATCA Platform – Adding Indicia
FATCA Platform – Update tax classification
FATCA Platform – Documentation & 4 Eyes Control
CRM Platform – Contact information
CRM Platform – Contact information (cntd)
CRM Platform – Sales Management
CRM Platform – Business Development Workflow
Demonstration:
Client Due Diligence
Using SharePoint 2013
SharePoint 2013 Enterprise Content
Management Document Sets
Records Management
Tasks
Drag/drop documents
Nintex Workflow Visualisation
Designer
Audit
SQL Server Data Warehousing PerformancePoint Services
Demonstration:
Architectural Overview
Core Business Systems
Data Warehouse
Data Mart
Finance MI
...
Enterprise Content Management and
Business Intelligence
Data Warehouse Design
Example Service Overview
Application Client Review Cessation
Compliance
Middle Office Operations
Future State
Technology Big Data and unstructured content
The Power of the Cloud
Hybrid Solutions
Regulation Greater reporting frequency
More national FATCA agreements
More exchange of information
More granular requirements
Shorter timescales to implement new
regulations
Increased audit depth
Frequently changing requirements
Qualitative elements in regulation and proof of
top down acceptance and compliance
More individual accountability
?Questions
Not to be treated as legal
advice…
Materials
This slide set (available shortly)
FATCA White Paper v3
AIFMD White Paper
Data Mining and Fraud Detection
Case Study
Data Warehousing with
WhereScape RED
www.c5alliance.com/News