The recent financial crisis clearly indicated that many banks and insurance companies were undercapitalized and sometimes underestimated the risks that were hiding in plain sight on their balance sheets. Legislators in Europe responded to this situation by significantly tightening reporting requirements for financial service providers. Taking the example of the German insurance sector, companies active in this industry must regularly provide information on their economic situation and submit comprehensive reports to the Federal Financial Supervisory Authority (BaFin).
Due to these extensive regulatory provisions, reporting is becoming an increasingly expensive and complex matter for financial service providers. They must therefore gear their entire IT landscape towards speed and quality in order to keep up with these reporting requirements. There is a major need for optimization when it comes to preparing financial statements – from the data source to the final report.
What our customers want:
Eliminate the frequency of errors in processes and systems when preparing financial reports
Increase the quality and speed of reporting to meet regulatory requirements
Gear the entire IT landscape towards speed and quality in order to keep up with reporting requirements
Our Risk Reporting Services
We help you define requirements and optimize your reporting workflows by harmonizing business and IT. Our implementation consulting services for risk reporting provide your management with a 360-degree view of reporting. The advantages of aligning corporate control and risk management processes are obvious to you as a decision-maker: You gain access to reliable and relevant information that allows you to make sound decisions, and consistent reporting is ensured across the board.