The regulatory requirements for Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act Stress Testing (DFAST) that came into place in January 2014 have many bank executives finding their time dominated by difficult data compilation, disparate calculation processes, and manual report generation and submissions. OneSumX for Regulatory Reporting gives banks a framework that easily and automatically creates and submits FR Y-14, FR Y-16 and DFAST reports, and the means to provide a totally transparent audit trail of the entire process as part of one integrated system, insuring both process efficiency and regulatory compliance.
Stress testing is a critical risk assessment that proves to regulators that a bank has adequate capital, robust processes for managing resources and is a equipped to deal with a range of financial and regulatory outcomes. The same measures that demonstrate compliance to regulators give bank management a comprehensive picture of the financial health of the bank, allowing for better decision making.
Wolters Kluwer Financial Services provides banks with an end-to-end solution that fully integrates regulatory reporting and submission with finance, performance, and risk management. By making compliance a seamless part of business practices, bank executives can step away from the spreadsheets and get back to the business of managing their banks.