Wolters Kluwer Holds Annual Global Client Conference to Discuss Finance, Risk & Regulatory Reporting Trends

 Wolters Kluwer’s Finance, Risk & Reporting (FRR) business is holding its eagerly anticipated annual Client Conference in Cascais, just outside Lisbon, this week. The event, which takes place between October 9^th  and 11^th, brings together the firm’s valued clients globally to discuss finance, risk and regulatory reporting trends and challenges. Notably, unlike many such events, the conference also allows clients to actually influence and drive Wolters Kluwer’s product strategy for its integrated regulatory compliance and reporting solution suite, OneSumX.

Notable speakers include Francis Gross, Senior Adviser of the General Statistics Directorate at The European Central Bank who will explore the future of regulatory change and how the financial sector needs to adapt to technological transformations.

Patrick Dixon, Chairman of Global Change Ltd, meanwhile, will examine the strategic impact of disruption, innovation and risk, setting the landscape for the next five to 10 years, while digging deep into organizational strategy and the issues relating to future business success. Dixon is also the author of 16 books on global trends (including The Future of Almost Everything) and has been ranked as one of the 20 most influential business thinkers alive today (Thinkers 50). Igor Beuker, a new-breed trendwatcher and award-winning marketing strategist for global brands such as Nike, Amazon, L’Oréal and Unilev, will deliver the Closing Keynote that aims to challenge everyone working in today’s dynamic technological landscape.

There will also be client case studies and interactive sessions around the roadmap and product development across Finance, Risk & Regulatory Reporting, as well as smaller meetings and workshops on various topics with product team and subject matter experts from Wolters Kluwer.

Major topics to be discussed on roundtables and in expert presentations include technological game changers that drive innovation, including Artificial Intelligence, Grid Computing and Containerization for Cloud Computing. Key regulatory drivers such as the Capital Requirements Directive (CRD) V and Basel IV, as well as Risk and Finance trends (including Balance Sheet Optimization, Interest Rate Risk in the Banking Book and The Standardized Approach for Measuring Counterparty Credit Risk) will also be debated.

The event is being held at a busy and particularly successful time for the company. Earlier this month Wolters Kluwer signed its first client for its recently launched software-as-a-service (SaaS) Regulatory Reporting solution. BNG Bank, which is partially owned by the State of the Netherlands, will use the solution to automate its regulatory reporting processes and to better ensure reconciliation of reporting between the bank’s own functional departments.

The SaaS solution, like the OneSumX for Regulatory Reporting on-premise solution, combines bank data into a single source of data to ensure consistency, ease of reconciliation and accuracy. It includes access to Wolters Kluwer’s unique Regulatory Update Service which is maintained by Wolters Kluwer experts who actively monitor regulation in 30 countries, factoring the potential impact of future changes into the OneSumX portfolio and ensuring clients’ ongoing compliance. As well as ensuring predictability of cost, the SaaS offering is a secure platform which provides flexibility of infrastructure for banks undergoing growth.

Meanwhile, Bank Hapoalim, one of Israel’s largest banks has selected Wolters Kluwer’s OneSumX solution for Risk Management, specifically using the software for managing its credit risk profile. The bank will now utilize Wolters Kluwer’s OneSumX software for Measuring Counterparty Credit Risk (SA-CCR). This is a revised rule under Basel III Standardized Approach, applied to calculate the exposure at default of derivatives, meaning banks need to consider how to integrate the standard into their overall regulatory approach.

The business has also successfully deployed its OneSumX for Finance software at Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank), allowing the bank to fully implement the Malaysian Financial Reporting Standards (MFRS) 9. SME Bank, an agency of the Ministry of Entrepreneur Development, has a mandate to nurture and develop the small and medium enterprise sector in Malaysia.

“As financial institutions enter an era of incredible momentum our product and technology strategy can serve as a tangible aid for clients as they seek to manage digital transformation in the context of an ever changing regulatory environment,” notes Inga Rottmann, Vice President of Global Marketing for Wolters Kluwer FRR. “The FRR Client Conference builds on our commitment to foster an ongoing dialogue with our clients. This dialogue focuses on refining our current working relationship and service offerings while assessing opportunities for future development. We are confident this only helps us and our clients further reinforce our relationship for our mutual benefit. The level of expertise – in and out of the conference sessions – from industry professionals is unparalleled. Building a better future together starts with what we do today.”

Wolters Kluwer FRR, which is part of Wolters Kluwer’s Governance, Risk & Compliance division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions, supporting regulated financial institutions in meeting their obligations to external regulators and their own boards of directors.

Wolters Kluwer FRR receives frequent independent recognition of its excellence and innovation. Risk magazine recently awarded the company its coveted Regulatory Reporting System of The Year Award for the second year running. Wolters Kluwer FRR is also this year’s Category Winner for Regulatory Reporting in the annual RiskTech100® report. This comprehensive study of the world’s leading risk and compliance technology companies is compiled by Chartis Research. Notably, this is the seventh time in eight years that Wolters Kluwer FRR has achieved this honor. Chartis Research has also named the firm a Category Leader in both its IFRS 9 Technology Solutions Report and CECL Report.