Wolters Kluwer Shares Finance, Risk & Reporting Expertise at RiskMinds International. This conference, which is celebrating its 25th anniversary, will be attended by more than 650 risk professionals from the financial industry. The event will feature presentations from Wolters Kluwer’s experts across a range of finance, risk and regulatory topics and the firm will also have senior experts on hand at its prominent stand during the course of the event.
One of the most challenging data management burdens facing banks globally is rooted in duplication. The evolution of regulations has left banks with various bespoke databases across five core functions: credit, treasury, profitability analytics, financial reporting and regulatory reporting, with the same data appearing and processed in multiple places.
An attractive alternative, Van Bavel will argue, is to adopt a dedicated FRR data warehouse that removes barriers between finance, risk and reporting functions by integrating all data into a standard format. Integrating finance, risk and regulatory reporting duties provides a significant competitive advantage and creates a firmer foundation for building the solution needed to navigate the supervisory landscape of the future.
The conference will also include a dedicated stream on International Financial Reporting Standard (IFRS) 9. The “IFRS 9 and Beyond” sessions, which will be chaired by Jeroen Van Doorsselaere, Vice President, Risk & Finance, for Wolters Kluwer FRR, will provide expert analysis of IFRS 9 and the upcoming adoption of the Current Expected Credit Losses (CECL) standard in U.S. GAAP based countries, exploring tactical and strategic approaches to the standards.
The conference will include presentations from major regulatory bodies including The European Banking Authority, The Federal Reserve Board, Bank of England, The European Central Bank, The Bank of Japan and The U.K.’s Financial Conduct Authority. Banks speaking at the event include BBVA, Citigroup, Commerzbank, HSBC, Mizuho, Nomura, Santander, Scotiabank and UBS.
Wolters Kluwer FRR, which is part of the company’s Governance, Risk & Compliance division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. It supports regulated financial institutions in meeting their obligations to external regulators and their own boards of directors.
Wolters Kluwer FRR receives frequent independent recognition of its excellence and innovation. Risk magazine awarded the company its coveted Regulatory Reporting System of The Year Award and Central Banking magazine recently named OneSumX for Regulatory Reporting its Best Technology Solution For Regulatory Compliance. Wolters Kluwer FRR is also this year’s Category Winner for Regulatory Reporting in the annual RiskTech100® report. This comprehensive study of the world’s leading risk and compliance technology companies is compiled by Chartis Research. Notably, this is the seventh time in eight years that Wolters Kluwer FRR has achieved this honor.
Leading financial services firms from across the world have implemented the company’s award winning OneSumX solution for integrated Regulatory Reporting, Risk and Finance. Major financial services providers that have recently announced their use of Wolters Kluwer FRR solutions include ABN AMRO, SME Development Bank Malaysia Berhad, Bahrain Middle East Bank, Bank of Beirut, China Merchants Bank, China Everbright Bank, LGT and Nordea.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, stay competitive and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2017 annual revenues of €4.4 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.