The client, an international central securities depository, required assistance in the transition to the new regulatory reporting requirements (i.e. Capital Requirements Regulation 2 / CRR2) coming into force in June 2021. In particular, the reporting function needed support on the following topics:
The client was looking for additional support in order to conduct ad-hoc research and analysis with regards to the new regulatory requirements, which would allow the core team to focus on the execution of the BAU activities.
The project involved a vast scope of regulatory topics and activities performed by the institution. As a result, the primary challenge was to understand and process a great amount of regulatory and internal data in order to arrive at meaningful conclusions. Moreover, due to the client working exclusively on a remote basis, the organisation of meetings and one-off interactions required much more involvement and time than purely on-site work.
Avantage Reply conducted in depth analysis and delivered a number of solutions, primarily focused on the following: