Wolters Kluwer hires in Canada for Finance, Risk & Reporting business

Wolters Kluwer has hired Dan Carnevale to further strengthen its Finance, Risk & Reporting business in Canada.

Carnevale, based in Toronto, joins the company as Country Manager, with a remit to ensure customers experience value from products and services, aligning Professional Services and Product Management resources. Wolters Kluwer has had a continuous presence in Canada for more than a decade and more than 10 leading banks currently use the firm to provide the software for their Bank of Canada reporting obligations.

Carnevale brings 15 years of financial markets experience to the team, including more than six years in capital markets positions at CIBC Mellon and two years of securities lending experience at Royal Bank of Canada Investor Services. He has also held senior sales positions at Calypso Technology and Thomson Reuters.

Wolters Kluwer’s Finance, Risk & Reporting business is global, with regional headquarters for the Americas region managed from Waltham, Massachusetts. In the Asia Pacific region operations are headquartered in Singapore and in Europe, Middle East and Africa the firm’s operations are managed from offices in Belgium and London.

“As part of our strategic plans for 2018 and beyond, we are continuing to invest in Canada, demonstrating our commitment to delivering superior deployment and implementation services for existing and new clients in the country,” comments Todd Lawrence, General Manager for Wolters Kluwer’s Finance, Risk & Reporting, Americas. “Our award winning OneSumX suite of solutions is used by financial services firms across North America to manage a broad array of regulatory reporting, finance and risk obligations. Our technology and content expertise means we are able to offer integrated regulatory compliance and reporting solutions for managing ever more complex finance, risk and regulatory reporting obligations.”

Last year Canada’s Equitable Bank selected the company’s OneSumX® Finance, Risk and Reporting solution. The solution will help Equitable Bank manage regulatory and supervisory expectations for its credit and capital management processes, as well as automate its International Financial Reporting Standards (IFRS) 9 requirements.

In a statement at the time Wolters Kluwer noted how “as Equitable Bank seeks to become an Advanced Internal Ratings Based (A-IRB) bank under the Basel III framework, the solution will provide the necessary tools to help comply with Office of the Superintendent of Financial Institution’s (OSFI) Capital Adequacy Requirements guidelines and supporting Implementation Notes.”

Wolters Kluwer has received a number of recent awards, providing independent verification of its leading market position in integrated regulatory reporting. Chartis Research, for example, recently named Wolters Kluwer a Category Leader for IFRS 9 solutions, for the second year running, as well as a Category Leader in its Markets in Financial Instruments Directive II (MiFID II) Report. Wolters Kluwer has won a number of other accolades for its dominant position in regulatory reporting from the likes of Wealth & Finance International, FinTech Finance, Data Management Review and Corporate Vision magazine.

Leading financial services firms from across the world have implemented the company’s OneSumX solution for Regulatory Reporting, Risk and Finance (including IFRS 9 solutions). Major financial services providers that have recently announced their use of Wolters Kluwer include ABN AMRO, Bahrain Middle East Bank, China Everbright Bank, China Merchants Bank, LGT, Nordea and BBVA.