Wolters Kluwer’s Finance, Risk & Reporting Business Holds Eagerly Anticipated Annual Global Client Conference in Amsterdam

It’s become a highly anticipated event in the ever busy calendar for banking executives keen to explore regulatory compliance and related technology insights. And today is the day that Wolters Kluwer’s Finance, Risk & Reporting business kicks off its annual Global Client Conference, with the event this year being held in Amsterdam.

The event brings together the firm’s clients globally to discuss finance, risk and regulatory reporting trends and challenges. The conference also allows clients to influence and drive Wolters Kluwer’s product strategy for its integrated regulatory compliance and reporting solution suite.

Keynote speakers, according to the event’s agenda, include Christopher Kutarna, Fellow of the Oxford Martin School at the University of Oxford, who will explore the unconscious biases that obscure our understanding of present political, economic, technological and social trends. Former Formula One mechanic and Sky Sports commentator Marc Priestley, meanwhile, will examine how communication and teamwork can be tapped to secure marginal gains.

Attendees will also have the opportunity to learn about the findings of a recent Wolters Kluwer survey, conducted in association with The FT’s Banker magazine. Rajat Somany, Vice President of Strategy, Product & Platform Management for Wolters Kluwer’s Finance, Risk & Reporting business, will explore key findings along with Joy Macknight, The Banker’s Deputy Editor.

Major topics to be discussed on rountables and in expert presentations include technological innovations which are enabling institutions to merge their Finance, Risk and Regulatory Reporting functions into a set of processes to help meet the twin demands of regulatory compliance and a competitive commercial landscape. Key regulatory drivers such as the Capital Requirements Directive (CRD) V and Risk and Finance trends (including International Financial Reporting Standard 9,Interest Rate Risk in the Banking Book and the Fundamenal Review of the Trading Book) will also be debated.

Wolters Kluwer experts will also explore the product and technology strategy for regulatory reporting and AnaCredit – the European Central Bank project to set up a dataset containing detailed information on individual bank loans in the euro area, harmonized across all Member States.

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

“Our clients are under pressure to maximize the value of their data in an ever changing regulatory environment,” notes Inga Rottmann, Vice President of Global Marketing for Wolters Kluwer’s Finance, Risk & Reporting business. “This conference provides a perfect opportunity for our clients to examine their strategies, particular in light of further integration of the finance, risk and regulatory reporting business processes. As always we look forward to exploring these and other themes with our clients during the conference.”

SECURING CLIENTS

Earlier this week Belgium-based bpost bank has chosen Wolters Kluwer’s Finance, Risk & Reporting business to provide its regulatory reporting and AnaCredit software for its operations in the country.

OneSumX Regulatory Reporting uses a single source of data to ensure consistency, reconciliation and accuracy and includes the firm’s Regulatory Update Service. This unique service is maintained by Wolters Kluwer experts who actively monitor regulation in approximately 30 countries.

AnaCredit is the European Central Bank project to set up a dataset containing detailed information on individual bank loans in the euro area, harmonized across all Member States. Wolters Kluwer’s integrated, scalable OneSumX AnaCredit solution uses grid and in-memory computing to handle the large data volumes required by the extensive regulation. This enables faster processing time and a more flexible operational environment for end users. In-memory processing preserves data lineage at each functional stage enabling more transparent reporting and full confidence in the reporting process leading to lower risk of mis-reporting.

The news follows a number of important client signings for the firm. Leading financial services firms from across the world have implemented the company’s award winning OneSumX solution for Regulatory Reporting, Risk and Finance. Major financial services providers that have recently announced their use of Wolters Kluwer solutions include ABN AMRO, SME Development Bank Malaysia Berhad, Bahrain Middle East Bank, China Everbright Bank, China Merchants Bank, LGT and Nordea.

MANAGEMENT CHANGES

Earlier this year the company announced it had hired Claudio Salinardi to lead its global Finance, Risk & Reporting business as Executive Vice President and General Manager.

Salinardi joined Wolters Kluwer from ICE Data Services where he was Global Head of Strategic Alliances, responsible for managing the firm’s relationships with its largest and most influential partners. Prior to ICE, Claudio spent over 10 years with Thomson Reuters in progressively senior roles, ultimately leading its Fixed Income business globally. Salinardi started his financial markets career working in Equity Research Sales, holding positions at JP Morgan and ABN AMRO among other financial institutions.

Salinardi, who is based in the company’s London office, has responsibility for the global operations of the Finance, Risk & Reporting business in Europe, the Middle East & Africa (EMEA), Asia Pacific (APAC) and the Americas. He reports directly to Richard Flynn, CEO of Wolters Kluwer’s Governance, Risk and Compliance Division.

In May, meanwhile, Wolters Kluwer appointed Rainer Fuchsluger as Managing Director of its Finance, Risk & Reporting business in the APAC region, based in Singapore. With 15 years of experience in financial services, Fuchsluger joined Wolters Kluwer from SS&C Technologies where he was Regional Managing Director of the Institutional and Investment Management business in Asia.

Rajat Somany, who joined the firm in May 2017 from Citigroup where he was a Managing Director, is Global Head of Strategy, Product and Platform Management for the Finance, Risk & Reporting Business. And Kris Van Bavel and Todd Lawrence run the Finance, Risk & Reporting business line in Europe and North America respectively.

AWARD WINS

Wolters Kluwer’s Finance, Risk & Reporting business describes itself as “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.”

It receives frequent independent recognition of its excellence and innovation and has done particuarly well this year. Notably, in July 2018, Risk magazine awarded Wolters Kluwer its coveted Regulatory Reporting System of The Year Award and Central Banking magazine recently named OneSumX for Regulatory Reporting its Best Technology Solution For Regulatory Compliance. Both awards celebrate success in the field globally. Chartis Research, meanwhile, has also named the firm a Category Leader in both its IFRS 9 Technology Solutions Report and CECL Report.