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The 2021 Regulatory Reporting Operating Model Survey provides insights into how Regulatory Reporting Departments continue to evolve.
Thirty six firms participated in the 2021 operating model survey and results were aggregated to identify emerging trends in Regulatory Reporting Departments (RRD). RRD responsibilities have expanded due to increased reporting requirements and enhanced regulator expectations. As a result, firms are relying more on nearshore and offshore resource models, increasing automation of report production, and leveraging shared services to support the production process.
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The authors would like to thank Abhishek Tiwari, Alberto Rosello, Jenny Chan, Sarah Sy, Chris Cardwell, Josh Welikson, Lindsay Fortnum, Kyle Lampart, Greg Bargiel, Michaela Brickley, Lauren Sport, Stephanie Ribeiro Levites and Sophie Brown for their contributions to the survey’s development.
Summary
Reassessing and challenging the regulatory reporting operating model allows firms to proactively identify areas of improvement.
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Strategic implementation of the report data dictionary helps firms build transparency, consistency, and accuracy of the regulatory reports. Click to learn more.
