Summary
The past decade has seen firms steadily enhance their reporting capabilities. This growth has been accompanied by a corresponding rise in the frequency of the regulatory examinations and feedback. The report data dictionary decomposes and documents key components of the reporting process, including requirements, interpretations, and data transformations, to demonstrate conformance with reporting requirements.
As firms plan their response to the regulatory uncertainties and increased risk the industry is facing in these unprecedented times, the report data dictionary can be a key driver of strategic change within financial organizations to build, strengthen and maintain its conformance framework.