KPMG Recovery and Resolution Workiva Implementation
KPMG's tailored Recovery and Resolution Implementation streamlines integrated data & reporting for both internal and external stakeholders.
Recent regulatory and economic changes have resulted in increased expectation of nimble and transparent processes around Capital Management, Liquidity Management, Regulatory Supervision, Enterprise Risk Management, and Integrated Data & Reporting capabilities from both internal and external stakeholders.
Recovery and resolution monitoring processes cover your liquidity capabilities that are required to meet increasing regulatory and operational demands and in turn covers pre and post resolution requirement adherence and submission standards. Recovery and Resolution plans are heavily reliant upon additional capital, liquidity, and risk exercises (CCAR/ DFAST/CLAR) and are constantly encumbered with manual data sourcing, cross-referencing data, lack of data consistency and integrity with significant time spent on review and certification.
KPMG has a tailored Workiva implementation approach to integrated data & reporting of Capital, Liquidity and Risk Management by addressing data collection, data linking, data management controls and aggregations along with audit trails for review, challenge, and certification. The bank can realize the following key improvements:
- Automation: Automated workflow for prioritized processes from data souring to report production with limited manual touchpoints
- Certification and Attestation: Streamlined processes to support integrated review and approval tasks for different teams
- Transparency: Increased insight, accuracy, timeliness, and analytical capabilities to meet regulatory submission deadlines
- Efficiency: Identification and removal of effort consuming activities and duplicated processes across resolution planning and treasury space
- Data Integrity and Consistency: Stepping-stone to centralize a data delivery framework consists of authoritative data sources for liquidity and capital data streams helping treasury function with data consistency across CCAR, liquidity and resolution exercises
Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.
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